AUD/USD stays defensive above 0.6900 ahead of China inflation, RBA SoMP – by anilpanchal7 AUDUSD RBA Fed Inflation China
f Australia’s Statement of Monetary Policy during early Friday. In addition to the RBA’s SoMP, the preliminary readings of US consumer-centric numbers for February like the Michigan Consumer Sentiment Index and 5-yearalso decorate the calendar and allowed the quote to pare recent losses. Furthermore, China’s headlines Consumer Price Index and Producer Price Index for January will also be important for immediate directions.
US Weekly Initial Jobless Claims rose to 196K versus 190K expected and 183K prior. “The advance number for seasonally adjusted insured unemployment during the week ending January 28 was 1,688,000, an increase of 38,000 from the previous week's revised level," said the US Department of Labor showed on Thursday.
It should be noted that the receding fears of the US-China jitters, following the China balloon shooting by the US, join the hopes of People’s Bank of China’s rate cuts and the restart of the China-based companies’ listing on the US exchanges to favor risk-on mood in the bloc.
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