Australian Dollar Gains as US Dollar Weakens Ahead of ISM Manufacturing PMI

Australian Dollar Strengthens as US Dollar Falters Ahead of Key US PMI Data

The Australian Dollar (AUD) appreciated more than 0.50% against the US Dollar (USD) on Monday amid increasing fears of slower US economic growth and rising inflation. The US Dollar has come under pressure following US President Donald Trump’s announcement to double tariffs on steel and aluminum imports from 25% to 50%.

Australian Economic Indicators Show Job Ads Decline

Australia’s ANZ Job Advertisements dropped 1.2% in May, continuing the decline from a revised 0.3% fall in April. The S&P Global Manufacturing PMI also slipped to 51.0, the lowest since February, signaling cooling momentum in the manufacturing sector.

US-China Trade Tensions Escalate Amid Tariff Disputes

In response to US claims that China did not reduce tariffs as agreed, China’s Ministry of Commerce reaffirmed its commitment to suspending or canceling reciprocal tariffs on US goods, maintaining a firm stance amid escalating trade tensions.

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