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Thursday Aug 21 2025 05:30
2 min
The Australian Dollar failed to draw any support from the improved preliminary data of S&P Global Australia’s Purchasing Managers Index (PMI). Australia's S&P Global Manufacturing PMI came in at 52.9 in August, against 51.3 prior. Meanwhile, Services PMI rose to 55.1 from the previous reading of 54.1. The Composite PMI improved to 54.9 from 53.8 previously.
The Reserve Bank of Australia (RBA) is expected to remain cautious after last week’s rate cut. Traders anticipate that the central bank to resume easing with a larger 50 basis-point rate cut, likely in November. However, it is important to note that economic forecasts are subject to change, and alterations in economic data could shift the course of monetary policy.
Japan’s Jibun Bank Manufacturing PMI improved to 49.9 in August from the previous month's final reading of 48.9, though it remained in contraction territory for the second straight month. Meanwhile, Services PMI fell to 52.7 from July’s five-month high of 53.6, though it marked the fifth consecutive month of expansion in the services sector.
The downside of the AUD/JPY cross could be restrained as the Japanese Yen (JPY) faces challenges amid prevailing uncertainty over the Bank of Japan’s (BoJ) policy outlook. BoJ Governor Kazuo Ueda has remained cautious, emphasizing that “underlying inflation” is yet to firmly reach the 2% target. However, domestic inflation stays elevated and wages continue to lag behind price growth, raising the likelihood of the BoJ rate hikes. Additionally, the Bank of Japan raised its inflation forecast at its July meeting, increased the odds of a rate hike by year-end.
Disclaimer: This analysis is for informational purposes only and should not be considered investment advice. Financial markets are volatile, and investments involve risk. You should conduct your own research and seek advice from a qualified financial professional before making any investment decisions.
Risk Warning and Disclaimer: This article represents only the author’s views and is for reference only. It does not constitute investment advice or financial guidance, nor does it represent the stance of the Markets.com platform. Trading Contracts for Difference (CFDs) involves high leverage and significant risks. Before making any trading decisions, we recommend consulting a professional financial advisor to assess your financial situation and risk tolerance. Any trading decisions based on this article are at your own risk.
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