AUDUSD pares recent gains at two-month high near 0.6700, Australia employment data eyed – by anilpanchal7 AUDUSD RiskAppetite RBA Fed Macroeconomics
during Monday’s initial Asian session. In doing so, the Aussie pair also portrays the cautious mood ahead of the key data/events from Australia and the US amid a light calendar.
Even so, China’s latest easing in the Coronavirus-led activity restrictions and positive offers for the struggling reality sector joins the talks of the US Federal Reserve’s easy rate hikes to keep the AUDUSD buyers hopeful. That said, China Communist Party announced further easing of the Covid controls and measures taken to ease the pain of the real estate market by a 16-point plan that includes more loans, allowing delays in bond payments and alteration to property lending limits.
It’s worth noting that Friday’s US data joined the recent dovish comments from the Fed officials to keep the AUDUSD buyers hopeful. That said, the first readings of the University of Michigan Consumer Confidence Index for November dropped to 54.7 versus 59.5 market expectations and 59.9 previous reading. Recently, Fed Governor Christopher Waller said Fed can begin to consider moving at a slower pace.
On the contrary, policymakers from the Reserve Bank of Australia have openly committed the readiness for easy rate hikes, which in turn keeps the AUDUSD buyers in chains. Also likely to challenge the pair buyers could be the multi-month high virus numbers from China, as well as the geopolitical fears of this week’s Group of 20 Nations meeting in Bali.remained firmer even as the holiday in the bond markets restricted the moves the previous day.
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