AUD/USD regains 0.6700 as Reserve Bank of Australia flags more interest rate hikes – by anilpanchal7 AUDUSD RBA Fed RiskAppetite SEO
European session. In doing so, the Aussie pair also cheers the US Dollar’s retreat amid a sluggish day.Reserve Bank of Australia matched market forecasts of announcing 25 basis points of a rate hike during its seventh consecutive increase in the benchmark rate to 3.10%. It’s worth noting, however, that the
Recently, Australia's Treasurer Jim Chalmers signaled more hardships for Australian economy and tested the AUD/USD pair buyers.Hopes that China would soon dial back its strict Zero-COVID policy seemed to have favored the market’s optimism, as well as the AUD/USD bulls. The reason could be linked to trade between Canberra and Beijing. Reuters quoted an anonymous source to report, “China is set to announce a further easing of some of the world's toughest COVID curbs as early as Wednesday.
US inflation expectations, as per the 10-year and 5-year breakeven inflation rates per the St. Louis Federal Reserve data, retreat from a one-month high. The latest prints of the 5-year and 10-year inflation expectations portray a pullback from the one-month high to 2.46% and 2.39% respectively.
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