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The AUD gained 0.55% against the USD on Monday and opened Asian Tuesday’s session with renewed strength amid falling US yields.
On the US data front . The Institute for Supply Management reported that business activity in the manufacturing sector slowed in May for the third consecutive month. The ISM Manufacturing PMI decreased from 49.2 to 48.7 for the second consecutive month at contractionary ground and below the forecast of 49.6..
On local front, the economic calendar will feature Company Gross Profits and Business Inventories for the first quarter of 2024, and the final Retail Sales report for April. month.
Economic data to watch out for.
• AU – Q1. Current Account Balance
• Germany – May. Unemployment Change
• US – Apr. Factory Orders
• US – Apr. Durable Goods Orders
• US – Apr. JOLTS Job Openings
Mid market rates.
| Currency Pair | Mid-market rate |
| AUD/USD | 0.6690 |
| AUD/NZD | 1.0803 |
| AUD/JPY | 104.43 |
| AUD/CNY | 4.8499 |
| AUD/EUR | 0.6132 |
| AUD/GBP | 0.5222 |
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