AUD/USD defends 0.6800 as USD index fades bounce off 15-month low despite cautious mood – by anilpanchal7 AUDUSD RiskAversion RBA Fed China
he Aussie pair remains on the back foot for the second consecutive day amid downbeat economic concerns at home, as well as surrounding the major customer China. Also weighing on the Aussie pair could be the market’s consolidation of the US Dollar losses ahead of the late July Fed meeting.
Elsewhere, downbeat China data also weigh on the AUD/USD price, despite the latest consolidation in the pair’s corrective bounce. That said, China’s second quarter 2023 Gross Domestic Product came in at 0.8% QoQ versus 0.5% market forecasts and 2.2% prior whereas the GDP YoY figures rose past the previous readings of 4.5% to 6.3%, versus analysts’ estimations of 7.3%. Further, the Industrial Production growth jumped to 4.4% YoY in June, compared to the 2.7% expected and 3.
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