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Australia S&P Global Composite PMI above expectations (50.8) in September: Actual (51.3)
Confirmed
In Short: Australia's Composite PMI rose to 58.4 in September, surpassing expectations and supporting the Australian Dollar amid global economic pressures.
The Australian S&P Global Composite Purchasing Managers' Index (PMI) rose to 58.4 in September, up from 56.0 in August, surpassing expectations and bolstering the Australian Dollar's value.
According to FXStreet, the Australian Dollar is drawing support from renewed expectations of a November interest rate hike, driven by elevated global yields and inflation risks.
Meanwhile, the Australian economy showed mixed signals, with manufacturing slipping into contraction and services expanding slowly for the second consecutive month, according to Fxstreet.
Eurasia Business News reported that US Treasury yields reached a new 24-year high on September 30, 2026, following stronger-than-expected economic growth that outweighed a softer reading on inflation.
The Dow Jones Industrial Average fell 0.9%, the S&P 500 declined 0.3%, while the Nasdaq Composite edged 0.2% higher, reflecting broader market volatility.
Payroll processing firm ADP reported Wednesday that private companies added 90,000 jobs in September, exceeding economists' estimates of a gain of 70,000 jobs.
Investors also assessed fresh US economic data showing that business activity accelerated sharply in September, potentially reinforcing expectations for further Federal Reserve rate hikes.
The S&P 500 declined 0.53% on September 23, 2026, as rising US Treasury yields and higher crude oil prices added pressure on Wall Street.
Despite the mixed signals, the Composite PMI's rise to 58.4 in September from 56.0 in August indicates a positive trend in the Australian economy, supporting the Australian Dollar amid global economic pressures.
What this adds
The Composite PMI's rise to 58.4 in September from 56.0 in August indicates a positive trend in the Australian economy, supporting the Australian Dollar amid global economic pressures.
Background
The Eurozone economic sentiment weakened in September, falling from 98.4 to 97.9, below the expected 99.0 and its long-term average of 100.
The Eurozone economic sentiment weakened in September, falling below expectations and its long-term average.
What's confirmed
- The Composite PMI rose to 58.4 from 56.0 in August.
- The Dow Jones Industrial Average fell 0.9%, the S&P 500 declined 0.3%, while the Nasdaq Composite edged 0.2% higher.
What's still developing
- By William Collins, consultant in stock markets – Eurasia Business News, September 30, 2026.
- The decline followed a relatively subdued session on Tuesday, when the S&P 500 was roughly flat while the Nasdaq Composite reached an intraday record high, supported by continued strength in technology and artificial-intelligence-related stocks.
- Furthermore, hawkish BoJ expectations amid looming intervention risks support the Japanese Yen, capping the pair.