AUD/USD floats above 0.6480 support ahead of Australia wage growth, RBA/FOMC Minutes – by anilpanchal7 AUDUSD RiskAversion RBA Fed China
Downbeat concerns about RBA, China contrasts with firmer US Treasury bond yields, Greenback to favor Aussie bears.
Talking about the data, the US Consumer Price Index numbers for July failed to lift the Fed bets for September, suggesting the nearness to the policy pivot. However, the CPI details and other price pressure measures managed to keep the Greenback buyers hopeful. It’s worth noting that the US for July, the preliminary readings of the University of Michigan’s Consumer Sentiment Index for August and the UoM 5-Year Consumer Inflation Expectations for the said month helped the USD benefit on Friday.
With this, the CME Group’s Fedwatch tool suggests that traders see less than a 10% chance that the US will raise interest rates in September.
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