Currently, the Australian Dollar (AUD) continues to suffer losses on Tuesday due to the strengthening of the US Dollar (USD) and the surge in US Treasury bond yields. Additionally, the AUD/USD pair is under pressure following the interest rate decision by the Reserve Bank of Australia (RBA).
Looking at the AUD chart, it is currently moving sideways with a slight downward bias. There is a possibility that if it breaks this trend, the AUD may experience a drop with prices potentially touching 0.627 and possibly even lower at 0.620.
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US ISM Manufacturing PMI improved in September from August’s reading. The Manufacturing Employment Index (Sep) also showed improvement but Manufacturing Prices Paid declined in said month.
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At the time of the survey, the US Dollar Index (DXY) measuring greenback fluctuations with 6 major currencies (EUR, JPY, GBP, CAD, SEK, CHF) increased by 0.15%; to 107.06.
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