AUD/USD trades around the 0.7020 area during Friday’s American session. The pair remains under mild pressure as disappointing Chinese business activity data offsets stronger Australian inflation expectations, while renewed hawkish comments from Federal Reserve (Fed) officials provide fresh support for the US Dollar.
China’s National Bureau of Statistics reported that the Manufacturing PMI fell to 49.2 in July from 50.3 previously, well below the 50.0 consensus and back into contraction territory. Meanwhile, the Non-Manufacturing PMI eased to 49.0 from 50.2, also missing expectations. The weaker readings reinforced concerns over slowing demand…
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