AUD/USD SLIDES TO FRESH DAILY LOW, EYES 0.6500 MARK AMID NOTABLE USD DEMAND
- AUD/USD meets with a fresh supply on Thursday amid a strong pickup in the USD demand.
- China’s economic woes and diminishing odds for further RBA rate hikes weigh on the Aussie.
- A positive risk tone could help limit further losses ahead of the key US NFP report on Friday.
The AUD/USD pair attracts fresh sellers following an intraday uptick to mid-0.6500s and drops to a fresh daily low during the early part of the European session on Thursday. Spot prices currently trade around the 0.6515 region and for now, seem to have stalled the previous day's goodish rebound from the lowest level since early May.
The US Dollar (USD) makes a solid comeback from the vicinity of a three-week low touched on Wednesday in the aftermath of the FOMC policy decision and turns out to be a key factor exerting downward pressure on the AUD/USD pair. Apart from this, persistent worries about a slowdown in China – the world's second-largest economy – undermines the China-proxy Australian Dollar (AUD) and contributes to the downfall.
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