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The report on China's business activity has placed the Australian Dollar as the second-worst-performing currency today, following the Japanese Yen.

Australia's unemployment rate is recorded to have increased from 3.5 percent to 3.7 percent in July 2023. As a result, AUDUSD fell.

The Reserve Bank of Australia not only kept the interest rate unchanged but also seemed less enthusiastic about raising it again.

Australia's Inflation data fell by a single digit in front of the comma, so it could be a reason not to raise interest rates again.

Various factors pressured the Australian dollar rate today, ranging from the RBA minutes to China's central bank announcement.

AUD/USD has fallen more than 0.7 percent since the morning opening, reaching a low level of 0.6605.

The Reserve Bank of Australia has raised interest rates by 25 basis points, citing concerns about persistently high inflation pressures.

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