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AUD/USD struggles to gain any meaningful traction and is influenced by a combination of factors.
A modest USD downtick lends support; though China's economic woes continue to cap the upside.
The better-than-expected Caixin China Manufact
The AUD/USD pair lacks any firm intraday directional bise on Friday and seesaws between tepid gains/minor losses through the Asian session. Spot prices, meanwhile, remain below the 0.6500 psychological mark and move little in reaction to the Chinese macro data.
A Caixin-sponsored survey showed that business activity in China’s manufacturing sector moved back into the expansion territory during August, smashing expectations for a fall for the second straight month. In fact, the Caixin China Manufacturing PMI rose to 51.0 from 49.2 in July, though does little to ease worries about the worsening conditions in the world's second-largest economy. This, in turn, fails to provide any meaningful impetus to the China-proxy Australian Dollar (AUD), though a modest US Dollar (USD) downtick lends support to the AUD/USD pair.
In fact, the Caixin China Manufacturing PMI rose to 51.0 from 49.2 in July
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PBOC sets USD/CNY reference rate at 7.1788 vs. 7.1811 previous
USD/MXN Price Analysis: Mexican Peso rebound needs validation from 16.87 and US NFPGBP/USD treads waters toward 1.2700, focus on US employment dataAUD/USD flat-lines below 0.6500 mark, reacts little to slightly better China PMIUSD/CNH slides to three-week low around 7.2400 on PBoC RRR cut, upbeat China PMI, focus on US NFP
