- AUD / USD is trading in positive territory after Thursday’s slide.
- The US Dollar Index pushed lower towards 91.00 on Friday.
- Investors await US manufacturing and services PMI data.
The pair AUD/USD It lost nearly 50 pips Thursday as the dollar began to outperform its rivals in the second half of the day. However, the pair had no difficulty making a rebound on Friday and was last seen gaining 0.35% on the day at 0.7735.
DXY turns south before US data.
Hours earlier, data from Australia showed Commonwealth Bank Manufacturing PMI and Services PMI improving to 59.6 and 58.6, respectively, in April. These upbeat figures helped the AUD / USD gain traction.
On the other hand, the US Dollar Index (DXY) reversed its course after closing modestly higher and is currently losing 0.25% at 91.04. In the second half of the day, preliminary US IHS Markit Manufacturing and Services PMI data will be examined for fresh momentum. The March new home sales report will also be featured on the US economic agenda.
Meanwhile, S&P 500 futures are up 0.2%. Following Thursday’s slide, major US stock indices could rebound before the weekend and put additional weight on the USD’s shoulders if US data reaffirms a strong economic recovery.
Technical levels
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