AUDUSD rebounds from below 0.6660 despite PBOC keeps interest rate policy stable – by Sagar_Dua24 AUDUSD Fed RBA PBOC Inflation
Led by rising Covid-19 cases and weaker real estate demand, the PBOC was expected to sound dovish.The AUDUSD has retreated after dropping below the immediate support of 0.6660 despite the People’s Bank of China keeping its stance on interest rates ‘unchanged’.Earlier, the asset witnessed selling pressure while attempting to cross the immediate hurdle of 0.6680 in the Tokyo session.
Led by rising infections of Covid-19 and vulnerable real estate demand in China, the PBOC was expected to sound ‘dovish’ on its Prime Lending Rates . The domestic catalysts have weakened economic projections extremely, therefore a rate cut was in consideration. An absence of expansionary measures in the monetary policy has broughtLast week, the release of upbeat Australian employment data delighted the Reserve Bank of Australia .
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