The AUD rate remained positive on Friday thanks to record highs in the S&P/ASX 200 index and gains on Wall Street. However, the AUD/USD pair experienced a decline on Thursday due to the strengthening of the US Dollar (USD) following the release of the Personal Consumption Expenditures (PCE) Price Index, which met expectations.
 
The Australian Dollar strengthened after the Retail Sales and Private Capital Expenditure data were released on Thursday. The Judo Bank Manufacturing PMI also showed a slight improvement, with February's figure rising to 47.8 from 47.7 previously.
 
Despite the increase in US Treasury yields, the US Dollar Index (DXY) weakened. The delay in expectations for a rate cut by the Federal Reserve after the US Gross Domestic Product (GDP) data provided support for the Greenback. Investors are now focused on the final S&P Global Manufacturing PMI data for the US in February, set to be released on Friday.
 
The AUD rate strengthened due to retail sales growth being lower than expected but higher than the previous month, as well as an increase in private capital expenditure. However, the Australian consumer price index remained stagnant below expectations. Concerns about stagnation in Australia's manufacturing sector were raised by the Chief Economic Advisor at Judo Bank.
 
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In China, the manufacturing PMI met expectations, while the non-manufacturing PMI exceeded forecasts. The President of the Atlanta Fed indicated challenges in achieving the 2% inflation target. Statements from the Presidents of the Chicago Fed and New York Fed suggest the possibility of a rate cut this year, with the CME FedWatch Tool recording probabilities for rate cuts in March, May, and June.
 
The growth in the US personal consumption expenditures price index met expectations, but core PCE showed a decline. The US gross domestic product grew slightly below expectations, while the GDP price index and US housing prices performed below forecasts.
 
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