AUD/USD bears poke 0.6700 key support, China data dump, RBA’s Lowe eyed – by anilpanchal7 AUDUSD RiskAppetite RBA Fed China
AUD/USD remains pressured at the lowest levels in two months, sellers attack upward sloping support line from July.Firmer yields, hawkish Fed bets could keep focus on the next week’s FOMC.
AUD/USD holds lower ground near the yearly bottom marked in July, poking the two-month-old support line, as risk-aversion propels the US dollar ahead of the day’s key catalysts. That said, the Aussie pair drops to 0.6696 by the press time. US Retail Sales rose 0.3% in August versus 0.0% expected and July’s revised down -0.4%. Further, NY Fed Empire State Manufacturing Index improved to -1.5 in September compared to -31.3 in August and market expectation of -13. Alternatively, Philadelphia Fed Manufacturing Index declined to -9.9 for the said month compared to 2.8 expected and 6.2 prior. Additionally, US Industrial Production slid to -0.2% in August versus market expectation for an expansion of 0.
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