AUD/USD jumps 0.4% on strong China Caixin Manufacturing PMI

AUD/USD surged 0.4% to 0.6685 following China's Caixin Manufacturing PMI jumping to 51.2 in June, significantly above the expected 50.3 and marking expansion territory. This private sector gauge contrasts with the official PMI of 49.5, suggesting divergence between smaller private manufacturers and larger state enterprises. The Australian dollar, highly sensitive to Chinese economic data due to trade ties, led gains among commodity currencies. NZD/USD also climbed 0.3% to 0.6120, while USD/CAD retreated to 1.3650. The positive China data boosted risk appetite across Asian markets, with equity futures advancing. Technical analysis shows AUD/USD breaking above the 0.6670 resistance level, with next targets at 0.6710 and 0.6750. Support has formed at 0.6640. The data reinforces expectations that China's economy may be stabilizing, potentially supporting further commodity currency strength.