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Category: CRYPTO NEWS
The post Australian Dollar struggles after disappointing economic data release, US PCE index eyed appeared on BitcoinEthereumNews.com. The Australian Dollar holds losses following the disappointing economic data released on Friday. Australia’s Retail Sales fell 0.1% MoM in April, missing forecasts of a 0.3% rise. The US Dollar struggles due to trade uncertainty and mixed US economic data. The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Friday, retracing its recent gains from the previous session. The AUD/USD pair remains subdued following the release of disappointing economic data from Australia. Australia’s seasonally adjusted Retail Sales declined by 0.1% month-over-month in April, against the expectations of remaining consistent at 0.3% growth. Meanwhile, the monthly Building Permits fell by 5.7%, against the expected increase of 3.1%. The AUD/USD pair received downward pressure after a three-judge panel at the Court of International Trade in Manhattan halted US President Donald Trump from imposing “Liberation Day” tariffs from taking effect. The federal court found that Trump exceeded his authority in imposing broad import tariffs and declared the executive orders issued on April 2 unlawful. However, the US Court of Appeals for the Federal Circuit in Washington, on Thursday, temporarily allowed Trump’s tariffs to take effect. In Australia’s close trading partner, China, Securities Times reports that analysts believe that the People’s Bank of China (PBoC) may boost Pledged Supplementary Lending (PSL). This move would provide low-cost, long-term funding to policy banks, which in turn support government-prioritized sectors, such as housing, urban redevelopment, and major infrastructure projects. Australian Dollar depreciates despite weaker US Dollar amid trade uncertainty, mixed data The US Dollar Index (DXY), which measures the value of the Greenback against six major currencies, is extending its losses for the second consecutive day and trading at around 99.20 at the time of writing. The US Dollar (USD) depreciated after the release of mixed United States (US) economic data. Traders will likely…
2025-05-30T03:45:26+00:00