AUD/USD declines due to modest US dollar gains after a packed economic calendar.
Weak Chinese PMIs weigh on the Australian Dollar.
RBA expected to maintain a hawkish stance, supporting AUD/USD, but concerns over China's economy linger.
The AUD/USD pair declined by 0.40% to 0.6560 in Friday's session, pressured by a modest US dollar recovery and skepticism surrounding China's economic stimulus initiatives. Weak manufacturing data from China, as indicated by the Purchasing Managers' Index (PMI) figures, has weighed on the Australian Dollar, which is heavily influenced by China's economic health. Despite expectations of a hawkish stance from the Reserve Bank of Australia (RBA), concerns over China's economic prospects continue to dampen the Aussie's performance.
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