# Aussie trades sideways despite weaker Greenback - OFX

> The Australian dollar traded sideways near 0.7048 on 30 April despite a weaker US dollar. Chinese manufacturing and non-manufacturing PMIs surprised to the downside, pushing the Aussie as low as 0.7038.

- Date: 2019-04-30 · published 2019-04-30T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/59832-aussie-trades-sideways-despite-weaker-greenback-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Weak Chinese PMI data signals softer demand for Australian commodities and raw materials. This is routine currency commentary with no major new supply or demand shock for feed markets.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2019/05/01/aussie-trades-sideways-despite-weaker-greenback/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.