AUD/USD picks up bids to reverse the previous day’s pullback from the highest level in a month.Bond market’s consolidation after a heavy move, rate chatters in China also underpin Aussie pair’s rebound.AUD/USD eases from intraday high to near 0.6660 while paring the late Wednesday’s rebound from 0.6640 during early Thursday morning.
Apart from the mixed Aussie data, sluggish sentiment in the market also prods the AUD/USD pair, due to its risk-barometer status. The reason could be linked to the fears of a global economic slowdown and higherHowever, hawkish concerns from the Reserve Bank of Australia contrast with rate cuts by Chinese banks to underpin the AUD/USD pair’s recovery.
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