The AUD/USD pair meets with a fresh supply during the Asian session on Friday and erodes a part of the previous day's goodish intraday move up from the 0.6500 psychological mark.
AUD/USD comes under some renewed selling pressure and erodes a part of the overnight gains. Reduced Fed rate cut bets, along with geopolitics, underpin the USD and drag spot prices lower. Chinese trade data, the US consumer sentiment index and Fed speak eyed for a fresh impetus. The AUD/USD pair meets with a fresh supply during the Asian session on Friday and erodes a part of the previous day's goodish intraday move up from the 0.6500 psychological mark.
The outlook keeps the US Treasury bond yields elevated, which, along with persistent geopolitical tensions, assists the USD to stand tall near the YTD peak. This, in turn, might continue to act as a headwind for the AUD/USD pair and warrants some caution for bulls. Market participants now keenly await the release of Chinese trade balance data, which might influence the China-proxy Australian Dollar .
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