AUDUSD SIGNAL:AUDUSD flirts with 0.6700 mark, focus shifts to Chinese macro data dump on Friday.



AUD/USD flirts with 0.6700 mark, focus shifts to Chinese macro data dump on Friday

  • AUD/USD remains on the defensive despite a modest USD pullback from the daily high.
  • The US bond yields retreat in reaction to the mixed US macro data and weigh on the buck.
  • Aggressive Fed rate hike bets, recession fears limit the USD losses and continue to cap.
  • Investors now eye the Chinese data dump on Friday for some meaningful opportunities.

AUDUSD SIGNAL: The AUDUSD pair once again finds some support ahead of the 0.6700 mark and recovers a few pips from the daily low during the early North American session. The pair is currently trading around the 0.6725-0.6730 area, still down over 0.20% for the day.

AUDUSD SIGNAL :The US dollar struggles to preserve its early modest gains and remains on the defensive for the second straight day on Thursday, which, in turn, offers some support to the AUD/USD pair. The mixed US economic data triggers an intraday pullback in the US Treasury bond yields and undermines the greenback.

That said, rising bets for a more aggressive policy tightening by the Fed, bolstered by Tuesday’s stronger US CPI report, should act as a tailwind for the US bond yields. Apart from this, worries about a global economic downturn might continue to favour the USD bulls and cap the upside for the risk-sensitive aussie.Confuse Which Broker is best ? , Here you can find the best regulated broker



Please rate*
Please enter your comment!
Please enter your name here