The AUD/USD declined by 0.76% to 0.6435 in Wednesday's session, driven by disappointing data results from key fundamentals in Australia.
AUD/USD fell 0.76% to 0.6436 in Wednesday's session. Disappointing Australian data sent the AUD/USD to a fresh four-month low near 0.6400. Weak Q3 GDP data has boosted bets that the RBA will start cutting interest rates sooner rather than later. The AUD/USD declined by 0.76% to 0.6435 in Wednesday's session, driven by disappointing data results from key fundamentals in Australia. This has sent AUD/USD to fresh four-month lows in the boundaries of the key contention zone at 0.6400.
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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