7/26/2021 3:21:06 AM GMT | By Dhwani Mehta
AUD/USD breaks lower amid a mixed market mood.
US-China talks and Australian covid woes weigh on the spot.
A broadly subdued US dollar limits the downside in the aussie.
AUD/USD is breaking its consolidative mode to the downside in the Asian session, losing the midpoint of the 0.7300 level, as the risk-off mood intensifies amid tensions surrounding the US-China talks and looming covid worries in Australia.
The market mood is worsening, with S&P 500 futures extending losses below 4,400, as US-Sino trade talks get underway. China s Vice Foreign Minister Xie Feng said that the standstill in US-Sino relations was due to some people in America treating Beijing as an imaginary enemy”.
EUR/USD remains vulnerable near 1 1750
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AUD/USD consolidates the bounce above 0 7450 ahead of Powell
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7/6/2021 3:27:51 AM GMT | By Anil Panchal
Alike every first Tuesday of the month, the Reserve Bank of Australia (RBA) is up for conveying the latest monetary policy meeting and Interest Rate Decision around 04:30 AM GMT. Following the event, Governor Philip Lowe s press conference, around 06:00 AM GMT, will also be crucial to watch as traders will seek details of action/inaction.
Contrary to the recent status-quo, the Aussie central bank has already signaled July action in its latest monetary policy meetings, which in turn keeps AUD/USD traders on their toes ahead of the key announcements.
Although broad market consensus doesn’t favor any changes in the benchmark interest rate of 0.10%, chatters over editing the 3-year yield targets and or purchase adjustments can’t be ruled out. The same contrasts with the Oz nation’s recent worries over the coronavirus (COVID-19) strains and mixed data.
RBA Preview: Forecasts from nine major banks, general dovish sense to be an AUD bearish trigger
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