AUD/USD bulls flirt with 0.6700 hurdle on upbeat Aussie data, softer US inflation signals – by anilpanchal7 AUDUSD RiskAversion Macroeconomics China Fed
rly Tuesday. In doing so, the Aussie pair also benefits from the downbeat US inflation expectations, as well as the softer US jobs report, while paying little heed to the recently hawkish Fed talks and softer inflation fears in China.
While the Aussie sentiment figures keep the buyers hopeful, the latest US inflation expectations flagged fears of deflation, especially after the previous day’s downbeat ChinaThat said, the Federal Reserve Bank of New York's monthly Survey of Consumer Expectations suggests that the US consumers' one-year inflation expectation dropped to the lowest level since April 2021 at 3.8% in June from 4.1% in May.
Even so, the Federal Reserve officials remain hawkish and prod the AUD/USD bulls. On Monday, San Francisco Fed President Mary Daly said, "We're likely to need a couple more rate hikes over the course of this year to really bring inflation sustainably back to the Fed's 2% goal." On the same line, Cleveland President Loretta Mester also said that the Fed will need to tighten the monetary policy "somewhat further" to lower inflation.
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