AUD/USD slides over 1.0% as China’s Covid woes join worrisome Aussie data, RBA’s Lowe – by anilpanchal7 AUDUSD RiskAppetite Coronavirus RBA Macroeconomics
addition to the risk-off mood, downbeat data from Australia and the grim comments from Reserve Bank of Australia Markets in China are down nearly 3.0% as the Coronavirus fears escalate in the dragon nation amid record-high daily infections and protests over the government’s Zero-Covid policy. The reason could be linked to the alleged fire that killed around 10 people in Shanghai as they couldn’t leave the building because it was partially locked down, per the rumors spread on the internet.
It’s worth noting that RBA Governor Lowe cited the wage-spiral risks and the housing market fears to exert more downside pressure on the AUD/USD prices.
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