AUD/USD flirts with 0.6700 even as hawkish wagers on RBA subside, Fed’s Powell eyed – by anilpanchal7 AUDUSD RBA Fed RiskAppetite Inflation
erve Chairman Jerome Powell’s speech early Wednesday. That said, the Aussie pair pokes intraday high near 0.9705 during the two-day uptrend.
It’s worth noting that the cautious optimism, mainly linked to China’s Covid conditions and easing of the virus-led activity restrictions, also seemed to have underpinned the AUD/USD pair’s upside momentum of late. dropped below 7.4% market forecasts and 7.3% prior to 6.9% while justifying the Reserve Bank of Australia’s latest dovish. Following the data, Reuters mentioned that the markets are still wagering the RBA will raise its cash rate by another 25 basis points to 3.
On the other hand, a second consecutive daily fall in China’s covid numbers from an all-time high backed the nation’s optimism over tackling the pandemic woes. Even so, Beijing reported disappointing activity data for November, which in turn suggests more easing from the People’s Bank of China and indirectly signaled more demand for Australia, due to the Aussie-Sino ties.Jerome Powell
, even if chatters surrounding easy hikes may persist. Also important to watch will be an early signal for Friday’s United States Nonfarm Payrolls , namely the ADP Employment Change for November, as well as the second readings of the US Gross Domestic Product for the third quarter .AUD/USD remains bearish unless crossing the previous support line from November 10 and a fortnight-long resistance line, close to 0.6770 by the press time.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Price Analysis: Daily closing below 0.6690 appears necessary for bearsAUD/USD Price Analysis: Daily closing below 0.6690 appears necessary for bears – by anilpanchal7 AUDUSD Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
AUD/USD pares intraday losses amid weaker USD, down a little around 0.6700 markThe AUD/USD pair opens with a modest bearish gap on the first day of a new week and remains depressed through the early North American session. The pa
Read more »
AUD/USD Price Analysis: Bears stay on top, eye break below 0.6650Protests against China's strict zero-COVID policy and restrictions on freedoms in the nation have led to a risk-off start to the week, weighing head8i
Read more »
AUD/USD plummets below 0.6700 due to risk aversion, Fed commentaryThe Australian Dollar (AUD) plunges as the week begins due to Federal Reserve (Fed) officials’ hawkish commentary, risk aversion spurred by China’s Co
Read more »
AUD/USD Forex Signal: Wide ConsolidationMy previous signal on 9th November was not triggered, as there was no bullish price reaction when any of the support levels were first reached that day.
Read more »
AUD/USD drops on China covid woes and hawkish Fed speakers supporting USDAUD/USD is flat as we approach Tokyo but is at risk of updates relating to China's coronavirus spread, subsequent lockdowns and protests thereof. The
Read more »