AUD/USD approaches 0.6670 key support with eyes on RBA, US NFP – by anilpanchal7 AUDUSD RiskAversion RBA NFP Currencies
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The last week’s downbeat Aussie Consumer Price Index and Retail Sales data raised concerns about the RBA’s last rate hike and flag the fears of the AUD/USD bear’s return. However, the softer US data and receding hawkish concerns from the Federal Reserve , not to forget the presence of the USOn Friday, the US Core Personal Consumption Expenditures Price Index, the Fed’s preferred gauge of inflation, for February declined to 4.6% YoY from 4.7% expected and prior.
Alternatively, a surprise output cut from the Organization of the Petroleum Exporting Countries and allies led by Russia, known collectively as OPEC+, joins fresh fears of the US-China tension weighing on the AUD/USD prices. On Friday, China's top diplomat Wang Yi said that the US and China relations are facing challenges and difficulties. “I urge the US to stop suppression, decoupling is wrong,” Wang added.
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