AUD/USD pares intraday losses amid weaker USD, down a little around 0.6700 mark – by hareshmenghani AUDUSD China Coronavirus Fed Currencies
ir, however, rebounds a few pips from a three-day low and now seems to have stabilized around the 0.6700 round-figure mark.
The global risk sentiment takes a hit amid the worsening COVID-19 situation in China and drives flows away from the perceived riskier Australian Dollar. In fact, China reported a record-high number of daily infections on Saturday. Moreover, the public discontent and widespread protests over the Chinese government's zero-COVID policy raise concerns about a further slowdown in economic activity.
The November FOMC meeting minutes released last week cemented market bets for a relatively smaller 50 bps rate hike by the US central bank in December. This, along with the flight to safety, contributes to the ongoing downfall in the US Treasury bond yields and drags the USD back closer to the monthly low. The fundamental backdrop makes it prudent to wait for strong follow-through selling before confirming that the AUD/USD pair has topped out.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pairs in Focus This Week-USD/CAD, EUR/USD, GBP/USD, AUD/USDGet the Forex Forecast using fundamentals, sentiment, and technical positions analyses for major pairs for the week.
Read more »
AUD/USD Price Analysis: Bulls could be tested at 0.6750 resistanceAs per the prior analysis, AUD/USD Price Analysis: Bulls eye 0.6900s into year-end, the bias remains to the upside for the week ahead while being on t
Read more »
AUD/USD slides towards 0.6700 on China Covid concerns, Aussie Retail Sales eyedAUD/USD slides towards 0.6700 on China Covid concerns, Aussie Retail Sales eyed – by anilpanchal7 AUDUSD Coronavirus RiskAppetite CentralBanks Macroeconomics
Read more »
When is Australia Retail Sales and how could it affect AUD/USD?Early Monday in the Asia-Pacific region, the market sees preliminary readings of Australia's seasonally adjusted Retail Sales for October month at 00:
Read more »
AUD/USD declines towards 0.6700 amid weak Aussie Retail Sales and China’s Covid protestsAUD/USD declines towards 0.6700 amid weak Aussie Retail Sales and China’s Covid protests – by Sagar_Dua24 AUDUSD RBA RetailSales Fed RiskAppetite
Read more »
Chinese markets in a route on risks to CCP, AUD/USD bears break outChinese markets are tanking on the risk of the Chinese Communist Party losing power. Protesters angered by strict anti-virus measures called for China
Read more »