AUD/USD rebound dwindles near 0.6750 ahead of China GDP, US Retail Sales – by anilpanchal7 AUDUSD RiskAppetite Recession Inflation Fed
ous mood ahead of important data from the key customer China, as well as from the US. However, risk-aversion due to the fears of the economic slowdown and faster rate hikes by the US Federal Reserve keeps the pair sellers hopeful.
At home, the upbeat jobs report for June and Consumer Inflation Expectations for July helped AUD/USD to battle the bears when got the chance. Australia’s Employment Change rose to 88.4K versus 25K expected and 60.6K prior. Further, the Unemployment Rate dropped to 3.5% from 3.9% previous readouts and 3.8% market consensus. Earlier in the day, Australia’s Consumer Inflation Expectations for July came out as 6.3% versus 5.9% expected and 6.7% prior.
Amid these plays, Wall Street closed mixed and the US 10-year Treasury yields ended the day around 2.95%, up 0.95% intraday, whereas the 2-year bond coupon dropped 0.75% to 3.12% at the latest.
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