Aussie Dollar Strengthens Amid Mixed Data
The Australian dollar surged beyond $0.654 on Monday, achieving its fifth straight session of gains and reaching its highest value in over two weeks, driven by a mixed array of domestic economic data. Australia's Manufacturing PMI notably climbed to a nearly three-year high of 53 in August 2025, maintaining its position above the 50-point mark for the eighth consecutive month. The labor market displayed resilience, with ANZ-Indeed Job Ads inching up by 0.1% in August after experiencing a decline in July. In the housing sector, private house approvals rose by 1.1% month-over-month in July, accounting for 9,288 units, which marked a recovery from the previous month's drop. Conversely, total dwelling approvals plummeted by 8.2% in July, falling below expectations and reversing a substantial increase recorded in June. On the international front, the Australian dollar drew some strength from a weakening US dollar, as investors adopted a cautious approach ahead of pivotal labor market data scheduled for release this week, which could significantly impact the Federal Reserve's forthcoming policy decisions.
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