Market participants await inflation data amid renewed US-China trade war fears.
Mixed local data, hawkish RBA and US Dollar strength influence AUD/USD sentiment.
The AUD/USD pair has been struggling to sustain its intraday gains, extending its losses for the second consecutive day and currently trading around 0.6460. Market participants will be closely monitoring inflation data due for release during Wednesday's trading hours, with geopolitical concerns, particularly renewed US-China trade war fears, casting a shadow over the currency.
The AUD/USD pair faces an uncertain outlook influenced by the hawkish Reserve Bank of Australia (RBA) and mixed Australian economic data. The US Dollar's strength has weighed on the pair, but potential rate hikes from the RBA may limit the downside.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.