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Aussie Weakens After Australia’s PMIs Fall

August 22, 2019 at 12:47 by Vladimir Vyun

A heap of Australian dollarsThe Australian dollar fell today amid the cautious market sentiment and domestic macroeconomic data that was not particularly good. Yet the losses were limited and currency managed to trim them against some rivals.

The Commonwealth Bank Flash Manufacturing PMI fell to 51.3 in August from 51.6 in July. Being above the neutral 50.0 level the index showed that the sector continued to expand but with a slower pace. At the same time, The Commonwealth Bank Flash Services Business Activity Index dropped to 49.2 from 52.3. In this case, the index showed a shift from expansion into contraction.

AUD/USD fell from 0.6780 to 0.6767 as of 12:46 GMT today. EUR/AUD traded at 1.6363 after opening at 1.6344 and rallying to the daily high of 1.6419.

If you have any questions, comments, or opinions regarding the Australian Dollar, feel free to post them using the commentary form below.

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