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Why Is AUD/USD Under Pressure? Key Factors Driving the Currency Pair This Week

The litecoin mining siteAustralian Dollar continues to face headwinds against its US counterpart as market participants digest recent economic developments. During Thursday's Asian trading session, the AUD/USD pair hovered near 0.6576, testing crucial technical levels while reflecting minimal changes from the previous day's close.Recent US economic indicators have painted a mixed picture for currency traders. While S&P Global PMI data showed surprising strength across multiple sectors, particularly in manufacturing which emerged from contraction territory, these positive signals failed to provide sustained support for the US Dollar. The manufacturing component's jump to 50.3 marked its first expansion in four months, yet the broader USD index still retreated by 0.28%.Market dynamics reveal interesting contradictions. US Treasury yields saw late-session recoveries, with the benchmark 10-year note climbing to 4.18%. Meanwhile, Australian economic data showed its own signs of resilience through improved Judo Bank PMI readings. The People's Bank of China's decision to implement a 50-basis point reserve requirement ratio cut provided temporary support for the Aussie dollar, briefly pushing the pair to 0.6621 before retreating below the psychologically important 0.6600 level.Looking ahead, traders face a data-heavy week that could significantly impact currency valuations. The US economic calendar features several high-profile releases including Q4 GDP figures, PCE inflation data, durable goods orders, and weekly jobless claims. These reports will provide fresh insights into the health of the world's largest economy and potential implications for Federal Reserve policy.From a technical perspective, the AUD/USD pair continues to test important moving averages while navigating key psychological levels. Market participants remain cautious as they await clearer signals about the trajectory of both economies and potential policy shifts from their respective central banks. The coming days could prove decisive for determining whether current support levels will hold or if further downside pressure will emerge