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AUD/USD Slumps Under Pressure from Weak China PMI and Hawkish US Dollar

Guavy AI Editorial Team
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USD AUD
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The AUD/USD pair traded around the 0.7020 level during Friday's American session, experiencing modest selling pressure due to weaker-than-expected economic data from China.

China's latest economic data highlighted a slowdown in business activity, with the Manufacturing Purchasing Managers' Index (PMI) declining to 49.2 in July from 50.3 in June, falling below market expectations of 50.0 and returning to contraction territory.

The Non-Manufacturing PMI also weakened, dropping to 49.0 from 50.2, missing forecasts and signaling softer activity across the services sector.

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