AUD/USD slides towards 0.6700 on China Covid concerns, Aussie Retail Sales eyed – by anilpanchal7 AUDUSD Coronavirus RiskAppetite CentralBanks Macroeconomics
China reports record Coronavirus cases, witnesses civil disobedience in Shanghai, Beijing.Australia’s Retail Sales, Inflation data and comments from RBA Governor Lowe, Fed Chair Powell can entertain traders pre-NFP.
Coronavirus fears in China joined the protest against the government’s Zero-Covid policy to add to the market’s woes. Additionally, the Reserve Bank of Australia’s mixed comments and the Aussie pair trader’s anxiety ahead of the key data/events also challenge the AUD/USD bulls. Even so, concerns surrounding easy rate hikes from the US Federal Reserve allowed the pair buyers to remain hopeful ahead of crucial data and events.
Also negative for the AUD/USD pair could be the downbeat China data publishing this weekend. China’s Industrial Profit dropped to -3.0% during the January to October period versus -2.3% marked for the January-September era. Additionally, the record high growth in the US Black Friday online shopping also acts as a negative barrier for the AUD/USD prices.
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