The AUD/USD pair struggled near the 0.6300 mark, with selling pressure mounting as investors awaited the release of China’s PMI data. The pair’s decline underscores market caution, as traders brace for signs of economic health in Australia’s largest trading partner. Expectations are muted, with weak Chinese industrial and services activity potentially impacting the Australian dollar further.
The Australian dollar, often seen as a proxy for Chinese economic sentiment, has remained under pressure amid global risk aversion and soft commodity prices. Any weaker-than-expected PMI figures could exacerbate losses, pushing the AUD/USD closer to multi-month lows.
