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AUD/USD rises on risk-on mood, upbeat PMIs

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  • AUD/USD climbs over 0.54%, reaching 0.6449, buoyed by gains in Wall Street and a flat US Dollar.
  • Australian manufacturing activity nears expansion with April's Judo Bank Manufacturing PMI rising to 49.9.
  • Busy week ahead for US economic data, including PMIs and GDP, expected to influence AUD/USD direction.

The Aussie Dollar began the week on the front foot and registered gains against the US Dollar on Monday, gaining more than 0.54% as risk appetite improved. As the Asian session begins, the AUD/USD trades at 0.6449, up 0.01%.

AUD/USD nears 0.6450 boosted by positive Australian data and lower US Treasury yields

Wall Street finished the session with gains, while US Treasury yields edged lower. The Greenback finished the session flat, though the AUD/USD bounced off yearly lows, shy of the 0.6450 area.

Data from Australia revealed that manufacturing activity in April improved. The Judo Bank Manufacturing PMI came at 49.9, up from 47.3, at a tick of expansion. The Services PMI cooled from 54.4 to 54.2, though it expanded at the fastest rate in two years.

In the meantime, data from the United States featured the Chicago Fed National Activity Index (CFNAI), which rose by 0.15 in March from 0.09 in February. The index’s three-month moving average increased from -0.28 in February to -0.19 in March.

What’s ahead for AUD/USD traders?

This week, the economic docket in the United States (US) will be busy. It will feature S&P Global PMIs, housing data, Durable Goods Orders, and the GDP for the first quarter of 2024. That, along with the release of the Fed’s preferred gauge for inflation, the March Personal Consumption Expenditure (PCE) Price Index, will dictate the direction of the AUD/USD.

AUD/USD

Overview
Today last price 0.6448
Today Daily Change 0.0029
Today Daily Change % 0.45
Today daily open 0.6419
Trends
Daily SMA20 0.6512
Daily SMA50 0.6534
Daily SMA100 0.6592
Daily SMA200 0.6534
Levels
Previous Daily High 0.6433
Previous Daily Low 0.6362
Previous Weekly High 0.6493
Previous Weekly Low 0.6362
Previous Monthly High 0.6667
Previous Monthly Low 0.6478
Daily Fibonacci 38.2% 0.6389
Daily Fibonacci 61.8% 0.6406
Daily Pivot Point S1 0.6377
Daily Pivot Point S2 0.6334
Daily Pivot Point S3 0.6306
Daily Pivot Point R1 0.6447
Daily Pivot Point R2 0.6475
Daily Pivot Point R3 0.6518
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