AUD/USD & NZD/USD Show Limited Gains Despite APEC Diplomatic Progress

AUD/USD edges higher to 0.6580 (+0.15%) while NZD/USD reaches 0.6020 (+0.12%) following the APEC summit, though gains remain fragile amid persistent dollar strength. The meetings produced expected diplomatic outcomes without significant trade breakthroughs, leaving commodity currencies vulnerable to broader market forces. Australian dollar faces headwinds from China's sluggish economic recovery, with recent PMI data showing manufacturing activity at 50.1, barely in expansion territory. New Zealand dollar struggles despite RBNZ's hawkish stance, as global risk sentiment remains cautious. Technical indicators show AUD/USD resistance at 0.6600 and support at 0.6550, while NZD/USD faces barriers at 0.6050 with support at 0.5980. Both pairs remain in downtrends on daily charts, requiring sustained breaks above respective resistance levels to signal reversal. Traders await Tuesday's Australian inflation data, which could provide near-term direction for antipodean currencies.