AUD/USD eases towards 0.6400 as sentiment sours on China, US banking concerns

AUD/USD remains depressed around intraday low of 0.6407 as risk aversion joins sluggish momentum early Tuesday. The Aussie pair’s latest weakness coul

S&P Global Ratings follows Moody’s in downgrading US banks’ credit ratings.Risk catalysts, second-tier US data and Fed talks may entertain intraday traders but Jackson Hole Symposium is the key.joins sluggish momentum early Tuesday.

That said, the S&P Global Ratings downgrades several US banks while highlighting the negative impacts of the higherand a decline in deposits. It’s worth noting that Moody’s initiated such moves early in August and triggered the risk-off mood. Additionally, China’s efforts to defend the post-COVID economic recovery, via a slew of stimulus measures, fail to impress market optimists and exert downside pressure onOn Monday, the People’s Bank of China , lowered the one-year Loan Prime Rate to 3.45% from 3.55% previous and 3.40% expected. However, the Chinese central bank kept the five-year LPRs unchanged at 4.20%.

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