Australian Dollar trades in the positive territory despite downbeat PMI data

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• Australian Dollar extends gains as the US Dollar declines.
• Australia’s Manufacturing PMI eased to 48.0, while the Services PMI dropped to 47.6.
• China may approve over 1 trillion yuan in additional sovereign debt issuance.
• The pullback in US Treasury yields is weighing on the Greenback.

The Australian Dollar (AUD) aims to trade in the positive territory on Tuesday, extending its gains for the second successive day. The AUD/USD pair receives upward support due to the correction in the US Dollar (USD), which could be attributed to the downbeat US Treasury yields.