AUD/USD bulls struggle with 0.6750 hurdle on Australia holiday, US inflation, Fed eyed – by anilpanchal7 AUDUSD RBA Fed Inflation Employment
divergence and challenges to the sentiment also prod the Aussie pair buyers as the key week comprising the Federal Open Market Committee monetary policy decision and the US inflation begins.
However, the softer prints of Aussie and China trade numbers, as well as mixed comments from the Chinese central banker, prod the risk barometer pair as traders reassess dovish Fed bias. dropped in the last two consecutive weeks to 103.56 at the latest, grinding near the bottom by the press time, as downbeat prints of the US activity numbers for May joined disappointing employment clues to weigh on the US Dollar.
Elsewhere, economic concerns about Australia’s biggest customer, namely China, and fears of global recession also prod the AUD/USD buyers. People's Bank of China Yi Gang said in a statement on Friday that China's Q2 GDP YoY growth is expected to be high mainly due to base effects. The policymaker added, “There is plenty of room for policy adjustment.”
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