AUD/USD rebounds to 0.6750 on US dollar pullback ahead of second-tier data, Fed – by anilpanchal7 AUDUSD RiskAppetite China Inflation CentralBanks
The quote’s latest rebound could be linked to the comments from US President Joe Biden, as well as hopes of more stimulus from China and a solution to the European energy crisis. However, fears emanating from the US-Taiwan ties and the US inflation numbers keep the AUD/USD bears hopeful.
Recently, US President Joe Biden mentioned, “I'm not concerned about the inflation report released today.” The US leader also added that the stock market does not always accurately represent the state of the economy. Furthermore, European Union Chief Ursula von der Leyen’s plans for the energy price capping and US Trade Representative Katherine Tai’s EU visit to meet European Commission Vice President Valdis Dombrovskis also favor the cautious optimism.
It should, however, be noted that the US Treasury bond yields continue to signal the recession woes ahead and hence challenge the pair buyers. That said, the US 10-year Treasury yields poke a three-month high around 3.45% while its two-year counterpart prints 3.80% figures at the latest. With this, the inverted yield curve between the 10-year and the two-year bond coupons keeps suggesting the fears of economic slowdown.
Furthermore, headlines suggesting Taiwan’s hosting of multiple foreign lawmakers in Washington to Push China sanctions and US lawmakers voting on financing arms for Taipei also weigh on the AUD/USD prices.
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