alia’s last meeting minutes. In the North American session, the AUD/USD is trading at 0.6945 at the time of writing.trading mixed. Also, a reflection of China’s Covid-19 zero-tolerance policy is China’s worst than expected economic data, with Industrial Production contracting 2.9% y/y and Retail Sales plummeting 11.1% y/y, paints a cloudy economic outlook for the second-largest economy in the world.
They added that “some recovery in global equities is surely needed at this point for AUD/USD to climb back above 0.7000, while another risk-off wave could send the pair to the 0.6600-0.6700 area in the near-term.” Before Wall Street opened, the New York Fed President John Williams said that the number one issue to resolve is inflation, and it is running far too high and stubbornly persistent. He added that 50-bps rate hikes make sense at upcoming meetings.
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