The AUD saw a further decline against the USD on Monday as AUD/USD fell to 0.6545.
Aussie kicks off the week on soft note ahead of key data. Retail Sales and Inflation figures will guide market expectations. Economic concerns over China limit the Aussie’s upside. Despite the expectations of a future rate hike by the Reserve Bank of Australia , issues with the local economy and Chinese economic woes persist, preventing any significant upward movement.
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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