AUD/USD stays depressed below 0.6550 ahead of Australia/US inflation clues – by anilpanchal7 AUDUSD RiskAppetite Inflation CPI Currencies
nflation clues during early Thursday morning in Canberra. In doing so, the Aussie pair licks its wounds near 0.6530 after declining in the last two consecutive days to refresh the 10-week low. It’s worth noting that the pre-data anxiety prods the momentum traders but the fears about China, Australia’s biggest customer, to exert downside pressure on the quote.
Markets remained mostly downbeat on Wednesday, despite the initial improvement, as fresh geopolitical and banking sector fears contrast with an intermediate relief to China. Even so, the traders’ rush towards the bonds could be witnessed and the same drowned the yields, as well as other riskier assets likeAdditionally, looming fears about the Aussie economy also weigh on the AUD/USD price.
Apart from China’s economic issues, Biden Administration also signaled relief to China technology companies and tamed the previous risk-off mood initially on Wednesday.
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