AUD/USD retreats towards 0.6500 on softer Australia Consumer Inflation Expectations, China woes, US CPI eyed – by anilpanchal7 AUDUSD Inflation China RiskAversion Currencies
Australia Inflation Expectations for August eased to 4.9% from 5.2% prior.
US CPI will be closely examined for clear directions, risk catalysts may entertain Aussie traders ahead of the release.steps back from intraday high while keeping the early-day sluggish momentum around 0.6530 after Australia inflation clues print a softer outcome for August. In doing so, the Aussie pair also fails to react to the likely US-China tension on the White House order restricting technology investments to Beijing.
Elsewhere, China's Commerce Ministry showed grave concerns and marked the rights to take measures in retaliation early Thursday in Asia, per Reuters. Thealso quotes China Commerce Ministry as saying, “Hopes that the US will respect laws of market economy and the principle of fair competition.” It should be noted that the looming economic fears from China, Europe and the UK join the global rating agencies’ crackdown on banks to weigh on the sentiment and the AUD/USD price. On the same line are fears of deflation in China and the market’s doubts about future moves of the major central banks.
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