By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Australia’s Judo Bank Services PMI Declines to 50.5 in September, Lower than Expected 50.6
Share
Notification Show More
Latest News
Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > Australia’s Judo Bank Services PMI Declines to 50.5 in September, Lower than Expected 50.6
Forex

Australia’s Judo Bank Services PMI Declines to 50.5 in September, Lower than Expected 50.6

News Room
Last updated: 2024/10/02 at 11:29 PM
News Room
Share
3 Min Read
SHARE

The Australian Judo Bank Services Purchasing Managers Index (PMI) saw a decline to 50.5 in September from the previous reading of 50.6, below the market consensus of 50.6. The Composite PMI also dropped to 49.6 in September. Market reaction to this data saw the AUD/USD pair up 0.01% on the day, trading at 0.6885. This data indicates a potential shift in economic activity within the Australian services sector.

One of the key factors that affect the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). The price of Australia’s biggest export, Iron Ore, also plays a significant role in determining the value of the AUD. The health of the Chinese economy, Australia’s largest trading partner, inflation rate, growth rate, and Trade Balance are other factors that influence the Australian Dollar. Market sentiment, whether investors are taking on more risky assets or seeking safe-havens, also impacts the value of the AUD.

The RBA plays a crucial role in influencing the Australian Dollar by setting interest rates that affect the overall economy. The central bank aims to maintain a stable inflation rate of 2-3% by adjusting interest rates accordingly. High-interest rates compared to other major central banks support the AUD, while low-interest rates have the opposite effect. The RBA can also use quantitative easing and tightening to influence credit conditions, impacting the value of the AUD.

Since China is Australia’s biggest trading partner, the health of the Chinese economy directly affects the value of the Australian Dollar. Positive growth in the Chinese economy leads to increased demand for Australian raw materials, goods, and services, boosting the value of the AUD. Conversely, slower-than-expected growth in China can have a negative impact on the Australian Dollar. Fluctuations in Chinese growth data often influence the value of the Australian Dollar and its pairs.

The price of Iron Ore, Australia’s largest export, also plays a significant role in determining the value of the Australian Dollar. Higher prices for Iron Ore often lead to an increase in demand for the AUD, pushing its value up. Conversely, lower Iron Ore prices can have a negative impact on the Australian Dollar. Additionally, higher Iron Ore prices can contribute to a positive Trade Balance for Australia, further strengthening the AUD.

The Trade Balance, which measures the difference between a country’s exports and imports, is another factor that influences the Australian Dollar. A positive net Trade Balance, where a country earns more from exports than it pays for imports, strengthens the currency. On the other hand, a negative Trade Balance can weaken the currency. The demand for Australian exports plays a crucial role in determining the value of the AUD based on the Trade Balance.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room October 2, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article The Next Meme Coin Expected to Reach $1 Million Market Cap
Next Article UAE: Traveler apprehended with 8.7kg of drugs at Sharjah airport
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Ferrero’s Social Responsibility Project Kinder Joy of moving Beats Traditional PE Curriculum, Tapping into the Cognitive Functions, Motor Coordination and Life Skills of Students
Lifestyle July 14, 2025
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?