AUD/USD awaits Australia trade data around 0.6650 as China woes, hawkish Fed clues lure sellers – by anilpanchal7 AUDUSD RiskAppetite China Fed Employment
, the Aussie pair portrays the cautious mood ahead of Australian trade numbers for May, as well as recently mixed catalysts surrounding the. Even so, pessimism about Canberra’s biggest customer Beijing, as well as broad recession woes, keeps the risk-barometer pair depressed.
The same joins the ongoing Sino-American tension and softer China data to exert additional downside pressure on the AUD/USD price. On Wednesday, downbeat prints of China’s Caixin Services PMI for June, to 53.9 versus 57.1 prior, joined the escalating fears of the US-China tension amid fresh warnings of further trade restrictions from Beijing to weigh on the sentiment and prices of the riskier assets like AUD/USD.
It should be noted that the Federal Open Market Committee Minutes for the June meeting stated that almost all members agreed to a pause in the rate hike trajectory while some policymakers showed an inclination for a July rate hike of around 0.25%. The same highlights hawkish bias at the US central bank, versus the Reserve Bank of Australia’s pause in the rate hike, to weigh on the Aussie pair.
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