AUD/USD slips 40 pips on mixed China PMI, upbeat Aussie inflation ahead of key US catalysts – by anilpanchal7 AUDUSD Inflation PMI RBA Fed
Australia’s Monthly Consumer Price Index for April rises 6.8% YoY versus 6.3% prior. Further, China’s official activity numbers for May came in mixed.
Hence, the latest data fails to justify the hawkish remarks from RBA’s Lowe and hence exerts downside pressure on the AUD/USD pair. Having witnessed the initial reaction to a slew of data, the AUD/USD pair may witness a lackluster day ahead as markets may turn cautious ahead of the key US event, namely the House voting on the US debt ceiling deal. Also important to watch is the US JOLTS Job Openings for April, expected 9.375M versus 9.59M prior, as well as the Chicago Purchasing Managers' Index for May, likely to fall to 47.0 from 48.6.
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