AUD/USD struggles to praise China inflation data above 0.6300, US Retail Sales eyed – by anilpanchal7 AUDUSD Inflation CentralBanks RiskAppetite Coronavirus
ian session. Even so, the Aussie pair remains bearish for the fifth consecutive week amid the latest divergence between the monetary policy signals from the Reserve Bank of Australia and the US Federal Reserve. Also challenging the Aussie pair buyers are the fresh covid fears from China. matched upbeat market forecasts by rising 2.8% in September while the Producer Price Index fell short of meeting expectations during the stated month, down to 0.9% versus 1.0% forecasts and 2.3% prior.
It should, however, be noted that the latest coronavirus wave in Hong Kong, Shanghai and Beijing joins the broad push for higher rates to challenge the optimism in China, which in turn weighs on the AUD/USD prices due to Australia’s trade ties with the dragon nation.
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