The AUD/USD pair trades with a mild negative bias above the 0.6600 psychological mark during the early Asian session on Monday.
AUD/USD trades on a weaker note near 0.6620 in Monday’s early Asian session. US Nonfarm payrolls increased by 275K in February; Unemployment Rate rose more than expected to 3.9%. Chinese CPI rose for the first time in six months, coming in at 0.7% YoY in February vs. -0.8% prior. The pair edges lower due to the modest rebound of the US Dollar to 102.75 after retreating to 102.40. Investors will closely watch the US Consumer Price Index and Retail Sales data this week for fresh impetus.
On the other hand, the Chinese Consumer Price Index climbed for the first time in six months due to spending linked to the Lunar New Year. China rose 0.7% YoY in February from a 0.8% decline in January, above the market consensus of a 0.3% increase, the first monthly rise since August 2023. The Producer Price Index fell 2.7% YoY in February, compared to expectations and the previous January’s reading of a 2.5% decline.
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