Australian Dollar Lower amid Mixed Data, Trade Wars

The Australian dollar fell today amid mixed macroeconomic data released over the trading session in Australia and its major trading partner, China. Risk aversion caused by trade wars between the United States and their allies also hurt the currency.

The Australian Industry Group Australian Performance of Manufacturing Index fell to 57.5 in May from 58.3 in April. The Index of Commodity Prices reported by the Reserve Bank of Australia rose 3.6% in May from a year ago after falling 1.8% in April. The Caixin China General Manufacturing PMI was unchanged at 51.1 in May.

AUD/USD fell from 0.7567 to 0.7543 as of 10:07 GMT today. EUR/AUD rallied from 1.5441 to 1.5523 after touching the daily low of 1.5400.

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