AUD/USD extends V-shape recovery to 0.6760 as upbeat Caixin PMI outweighs Aussie CPI AUDUSD Fed RBA PBOC SEO
has refreshed its day low below 104.47 as investors have ignored the uncertainty associated with hawkish Federal Reserve bets. Also, the safe-haven assets are struggling to find a cushion as investors have underpinned the risk-on mood. Contrary to the positiveRBA senses relief as Australian Inflation softens and GDP trims
The Reserve Bank of Australia has been making efforts in bringing down inflationary pressures by the continuation of policy tightening. Reserve Bank of Australiahas already pushed its Official Cash Rate to 3.35% in order to tame the stubborn inflation. And, more rates must be in pipeline to achieve price stability sooner.
Apart from that, China’s National Bureau of Statistics Manufacturing PMI landed higher at 52.6 vs. the consensus of 50.5 and the prior release of 50.1. The Services Manufacturing PMI exploded to 56.3 against 54.4 released in January while the street was anticipating a downbeat figure at 49.7.
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