Australia's Manufacturing PMI Rises to 51.7 in July
The S&P Global Manufacturing Purchasing Managers Index (PMI) for Australia edged up to a preliminary 51.7 in July from 51.5 previously, signaling continued expansion in the sector.
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The preliminary reading of Australia's S&P Global Manufacturing PMI came in at 51.7 for July, up slightly from the 51.5 recorded in the prior month. A reading above 50 indicates expansion in the manufacturing sector.
The data, released by S&P Global, suggests ongoing resilience in Australian factory activity despite global headwinds. The modest increase may provide some support for the Australian dollar in FX markets.
Source: FXStreet Forex News