AUD/USD eyes further downside as bears prod 0.6600 amid banking woes ahead of US Q1 GDP – by anilpanchal7 AUDUSD RiskAversion Banks Inflation GDP
snaps a two-day downtrend but the bearish bias remains intact amid multiple negatives to the risk profile and surrounding the Reserve Bank of Australia’s next move.
That said, Australia’s Monthly Consumer Price Index dropped to 6.1% YoY in March versus 6.6% expected and 6.8% prior. On the same line, the Q1 CPI also eased to 1.4% QoQ from 1.9% in previous readings but crossed the 1.3% market forecasts. Further, the RBA Trimmed Mean CPI declined below 1.4% consensus and 1.7% prior to 1.2% QoQ in the first quarter .
It’s worth noting that the cautious mood surrounding the US debt ceiling expiration exerts downside pressure on the AUD/USD price as most policymakers aren’t agreeing on the measures suggested by US President Joe Biden. It should be observed that the US House of Representatives currently votes on a bill suggesting the increase in the debt ceiling and to cut government spending, known as the"Limit, Save, Grow Act".
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: Where are the bears hibernating?As per the prior analysis, AUD/USD Price Analysis: Bears aligned below 0.6710, we have seen the price pressured lower, but bulls have put up a good fi
Read more »
AUD/USD justifies risk barometer status to drop towards 0.6650 amid sour sentimentAUD/USD renews its intraday low near 0.6680 amid sour sentiment during early Tuesday. In doing so, the Aussie pair reverses the corrective bounce from
Read more »
AUD/USD Price Analysis: Portrays bearish consolidation below 0.6700AUD/USD bears return to the table, following an upbeat start of the week, as the Aussie pair drops to 0.6680 amid early Tuesday morning in Europe. In
Read more »
AUD/USD extends slide below 0.6630, hits two-week lowsThe AUD/USD is falling sharply on Tuesday amid a stronger US Dollar and a mixed market sentiment. The pair is trading at 0.6627, the lowest level sinc
Read more »
AUD/USD defends 0.6600 ahead of Australian Inflation and US Durable Goods Orders dataThe AUD/USD pair has shown a minor recovery after printing a fresh five-week low of 0.6614 in the early Asian session. The Aussie asset has rebounded
Read more »
AUD/USD Price Analysis: Corrective bounce seeks acceptance from 0.6655 hurdle and Australia inflationAUD/USD Price Analysis: Corrective bounce seeks acceptance from 0.6655 hurdle and Australia inflation AUDUSD Technical Analysis ChartPatterns SwingTrading Inflation
Read more »