The Australian Dollar continues to underperform against the US Dollar (USD), which is making a strong recovery following the Federal Open Market Committee (FOMC) policy decision.
Aussie experiences some pressure after mixed Australian CPI figures. Traders are keeping vigilance on the upcoming NFP data. Markets are backing down on the rate hike hopes of the Reserve Bank of Australia. The Australian Dollar continues to underperform against the US Dollar , which is making a strong recovery following the Federal Open Market Committee policy decision. Chinese economic woes and cooling rate hike bets on the Reserve Bank of Australia also pressure down the Aussie.
The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD.
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