AUD/USD bears remain hopeful at three-week low near 0.6650, focus on RBA, US NFP and China PMI – by anilpanchal7 AUDUSD RBA PMI China NFP
stays depressed at the lowest levels in three weeks as market players await this week’s Reserve Bank of Australia Monetary Policy Meeting announcements and the US employment report for July, mainly theThat said, the downbeat Aussie data contrasted with the firmer US statistics and weighed on the Aussie pair the last week. However, the weekend headlines from China and the Federal Reserve put a floor under the AUD/USD price.
On Friday, Australia Retail Sales slumps 0.8% MoM in June versus 0.0% expected and prior growth of 0.7%. It should be noted that the second-quarter Producer Price Index data have been disappointing with 3.9% YoY and 0.5% QoQ figures. Previously, softer prints of Australian inflation and PMI numbers justified the RBA’s latest pause and pushed back the AUD/USD bulls.
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