Forex
AUD Falls Amid Mixed Chinese PMIs and Rising Inflation
The Australian Dollar (AUD) traded lower on Monday at around 0.7160, down 0.08% from the previous day's close.
The mixed Chinese economic data released on Monday failed to impress investors and weighed on the AUD/USD pair.
China's manufacturing activity improved in August, with the Manufacturing Purchasing Managers Index (PMI) rising to 49.8 from 49.2 previously, but remaining below the threshold of 50 that separates expansion from contraction.
Australia's TD-MI Inflation Gauge accelerated to 4.8% year-over-year in August, supporting the Reserve Bank of Australia's cautious stance and providing some support to the AUD/USD pair.