AUD/USD breaks through 200-day SMA barrier near 0.6700, spikes to over two-week high – by hareshmenghani AUDUSD Fed RiskAppetite Inflation Currencies
The USD selling remains unabated and turns out to be a key factor lending support.pair gains some positive traction for the second successive day on Wednesday and spikes to over a two-week peak, around the 0.6715-0.6720 region during the Asian session.
The US jobs report released on Friday showed that the economy added the fewest jobs in 2-1/2 years, signalling that the labor market is cooling. Adding to this, the New York Fes's monthly survey revealed on Monday that the one-year consumer inflation expectation dropped to 3.8% in June - the lowest level since April 2021. This could allow the Fed to soften its hawkish stance and continues to weigh on the buck.
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