Australian dollar falls on weak Chinese PMI data; Yuan slightly increases by Investing.com

Investing.com – The Australian dollar, an indirect indicator for China, was traded Tuesday in Asia after the official index and the PMI (Caixin Purchasing Managers Index) index for the period of April.

The pair fell 0.2% to 0.7044 at 00:35 (0435 GMT) and was sent to its lows immediately after PMI data was released.

The manufacturing sector fell to 50.1 in April from 50.5 in March. The reading was less than the expected 50.5.

The survey, a private survey of small and medium-sized enterprises, was 50.2. This compares with the forecast of 51.0 and 50.8 last month.

The pair edged up 0.1% to 6.7370.

The latest round of trade talks between the United States and China will begin in Beijing this week. US Treasury Secretary Steve Mnuchin told the New York Times that the talks were "in the final rounds", while US President Donald Trump announced last week that he would welcome Chinese leader Xi Jinping to the White House and could sign a possible trade agreement. .

The greenback's balance against a basket of other currencies remained virtually unchanged at 97.558, as markets await the results of the two-day meeting of the Federal Open Market Committee.

The FOMC, the Fed's tariff body, is currently targeting a rate ranging from 2.25% to 2.5%. No policy changes are expected, but Fed Chairman Jerome Powell's press conference, after the announcement of the interest rate decision, will hold particularly the focus .