AUD/USD Extends Losses for Sixth Day Despite Better Aussie PMI

The Australian dollar continued its losing streak for the sixth consecutive day, with AUD/USD hovering around 0.6980 during Asian hours on Tuesday.

The pair failed to find support from the release of improved preliminary S&P Global Purchasing Managers Index (PMI) data for Australia, which came in above expectations. Despite the positive economic reading, the Aussie remained under pressure, suggesting that broader market forces or technical factors are weighing on the currency.

Traders are now watching for further catalysts, including potential commentary from the Reserve Bank of Australia and developments in global risk sentiment.