The Australian Dollar (AUD) remains slightly positive on Friday, hovering around 0.6215. Despite a brief dip to a two-week low, the AUD is supported by iron ore prices reaching yearly highs. However, ongoing US-China trade tensions, with President Trump reaffirming tariffs on Chinese imports, continue to weigh on the Aussie. Furthermore, speculation of an RBA rate cut in February and China's economic struggles are adding downward pressure. US PCE data showed no surprises, and while the Fed remains cautious, markets expect no rate cut in March. Technically, AUD/USD is range-bound, facing resistance near 0.6230 and support at 0.6200.
AUD/USD hovers above 0.6200, defending mild bids amid US tariff concerns and weak Chinese data. US PCE data showed no surprises, Fed remains cautious. RBA dovish bets continue to pressure the pair. The Australian Dollar clings to mild gains on Friday, trading around 0.6215 after briefly touching a two-week low. The pair remains under pressure as US President Donald Trump reaffirmed plans to impose tariffs on Chinese imports, dampening risk sentiment.
Meanwhile, the Moving Average Convergence Divergence histogram prints decreasing green bars, suggesting fading bullish strength. Despite recent recovery attempts, the Aussie’s upside potential appears limited. A break below 0.6200 could trigger further losses, while a move above 0.6230 may offer short-term relief. Tariffs FAQs What are tariffs? Tariffs are customs duties levied on certain merchandise imports or a category of products.
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