Australia final June PMI: Services 51.2 (prior 52.5)

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Australia final June PMI: Services 51.2 (prior 52.5)

Australian Judo Bank PMI, the final readings for June 2024:

• Australian final manufacturing PMI for June plunges further into contraction @ 47.2
• Services 51.2 (prior 52.5)
• Composite 50.7 (prior 52.1)

These are disappointing results. While Services has remained in expansion, holding the Composite in expansion also, allthree are lower than in May.

AUD doesn't usually respond on the release of this data. If you look closely enough its off a tic or two. M'eh. AUD found support overnight from a weaker US dollar. Yesterday's RBA minutes nudging up the chance of an August rate hike was a tailwind too, at the margin.

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The preliminary readings for these are here:

• Australia preliminary June PMI: Manufacturing 47.5 (prior 49.7) Services 51.0 (prior 52.5)

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: Australia final June PMI: Services 51.2 (prior 52.5)

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