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The Australian Dollar (AUD) inches higher against the US Dollar (USD), holding ground for the second successive session. Volumes are expected to be thin due to the New Year’s holiday in Australia. The AUD/USD pair moves little following the release of China’s official Manufacturing Purchasing Managers’ Index (PMI), which rose to 50.1 in December, compared to 49.2 in the previous reading. The reading came in above the market consensus of 49.2 in the reported month. The NBS Non-Manufacturing PMI climbed to 50.2 in December versus November’s 49.5 figure. The market forecast was for a 49.8 print. The AUD finds support amid growing expectations of interest rate hikes from the Reserve Bank of Australia (RBA). RBA Governor Michele Bullock said earlier that although the board did not explicitly consider a rate hike, it discussed the conditions under which interest rates might need to increase in 2026. The RBA December Meeting Minutes indicated that policymakers stand ready to tighten policy if inflation fails to ease as expected, placing increased focus on the Q4 CPI report due January 28. Analysts note that a stronger-than-expected Q4 core inflation reading could trigger a rate hike at the RBA’s February 3 meeting. US Dollar gains following FOMC Meeting Minutes The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is holding ground after registering modest gains in the previous session. The DXY is trading around 98.20 at the time of writing. Federal Open Market Committee (FOMC) December Meeting Minutes released on Tuesday revealed that most participants judged that it would likely be appropriate to stand on further rate cuts if inflation declined over time. Meanwhile, some Fed officials said it might be best to leave rates unchanged for a while after the committee made three rate reductions this year…

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Filed under: News - @ December 31, 2025 2:20 am