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AUD/USD fails to cheer upbeat China inflation data, prints three-day downtrend towards 0.7700
Abstract：AUD/USD stays depressed around the intraday low even as China prints welcome inflation figures for December. China’s CPI grew 0.2% YoY, PPI recovered to -0.4% on yearly format. Risks dwindle mid virus woes, Sino-American tension and US stimulus hopes. A light calendar in Asia keeps risk catalysts on the driver’s seat.
AUD/USD ignores more than expected China inflation numbers while holding the lower ground near 0.7710, down 0.62% intraday, during Monday‘s Asian session. The reason for the quote’s latest weakness could be traced from the risk-off mood as well as the US dollars sustained recovery moves.
Chinas Consumer Price Index (CPI) and Producer Price Index (PPI) for December crossed upbeat forecasts while flashing 0.2% and -0.4% YoY figures. It should be noted that the monthly CPI 0.7% versus 0.4% expected -0.6% prior.
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KVB Market Analysis | 27 August: AUD/USD Holds Below Seven-Month High Amid Divergent Central Bank Policies
The Australian Dollar (AUD) traded sideways against the US Dollar (USD) on Tuesday, staying just below the seven-month high of 0.6798 reached on Monday. The downside for the AUD/USD pair is expected to be limited due to differing policy outlooks between the Reserve Bank of Australia (RBA) and the US Federal Reserve. The RBA Minutes indicated that a rate cut is unlikely soon, and Governor Michele Bullock affirmed the central bank's readiness to raise rates again if necessary to combat inflation.
Review 2024-08-27
Market Insights | January 15, 2024
U.S. stocks closed mixed. Dow Jones Industrial Average fell 118 points (-0.31%) to 37,592, S&P 500 gained 3 points (+0.08%) to 4,783, and Nasdaq 100 edged up 12 points (+0.07%) to 16,832.
Review 2024-01-15
Daily Forex Analysis - 08 March 2021
Abstract：Daily currency trading guides and market forecasts: NZD/USD, AUD/USD, USD/JPY, EUR/USD, GBP/USD, USD/CAD, GBP/JPY, EUR/JPY
Original 2021-03-08
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