AUD/USD dribbles around 0.6900 as traders await Aussie Trade Balance, China Inflation – by anilpanchal7 AUDUSD TradeBalance CPI Inflation RiskAppetite
Asian session. Even so, the Aussie pair stays on the way to post four consecutive weekly gains while staying around the highest levels since late August 2022.
That said, Australia’s seasonally adjusted Retail Sales grew 1.4% MoM versus 0.6% expected and -0.2% prior while the Monthly Consumer Price Index rose 7.4% compared to -5.7% market forecasts and -3.9% previous readings. Talking about China, the dragon nation’s total reopening and early signals of heavy holiday shopping join the chatters that the People’s Bank of China will adhere to rate cuts in 2023 to spread the Beijing-inspired optimism. On the same line, the recent improvement in the Sino-Aussie ties also helps AUD/USD to remain firmer.
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