AUD/USD slides to 0.6750 amid mixed concerns over China Covid, Aussie consumer sentiment – by anilpanchal7 AUDUSD RiskAppetite Coronavirus ConsumerConfidence Currencies
Market sentiment deteriorates on hopes of Covid pain, downbeat Aussie consumer index adds strength to the bearish bias.AUD/USD justifies its risk-barometer status while easing to 0.6765 during early Friday, after rising the most in a week the previous day.
Although Australia hasn’t joined the league of seven counties that announced Covid-test requirements for travelers from China, the recent chatters raise fears that the COVID-19 conditions in the dragon nation are worst than appear. While highlighting the same, the UK-based health data firm Airfinity said on Thursday that around 9,000 people in China are probably dying each day from COVID-19, double the numbers expected the previous day and higher than the official figures conveyed by China.
Previously, the mixed US data and easing fears of the Coronavirus, as well as hopes of overcoming the Ukrainian crisis, seemed to have weighed on the US Dollar and helped the AUD/USD pair to remain firmer. On the other hand, Italy’s rejection of fears of any new Covid variant, after finding 50% of flight passengers being infected by the virus, seemed to have helped the markets in ignoring the fears of the virus. On the same line could be the headlines suggesting China’s discovery of a Covid antiviral pill and hopes of the CDC board to overcome the COVID-19 fears by citing the peak of virus spread in Beijing, Tianjin and Chengdu.
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