AUD/USD prints three-day winning streak near 0.6700 despite mixed China trade data – by anilpanchal7 AUDUSD China ForeignTrade RBA Fed
pair’s run-up could be linked to the early-day release of Australian employment data. That said, the risk barometer pair prints mild gains around 0.6710 by the press time.
It should be noted that the previous day’s dovish remarks from Reserve Bank of Australia’s Assistant Governor Michele Bullock prod the AUD/USD bulls, together with the latest fears of easy inflation and the RBA’s pause in rate hike trajectory. Further, the Minutes of the latest Federal Open Market Committee Monetary Policy Meeting also challenged the Fed hawks by stating that the expectations for rate hikes were scaled back due to the turmoil in the banking sector. “Several Federal Reserve policymakers last month considered pausing interest rate increases after the failure of two regional banks and a forecast from Fed staff that banking sector stress would tip the economy into recession,” mentioned Reuters.
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