AUD/USD rebound prods 0.6430 resistance amid firmer Australia Retail Sales, China stimulus news

AUD/USD rises half a percent to around 0.6440 as it prods the key upside hurdle after witnessing upbeat Australia Retail Sales. Adding strength to the

Aussie pair’s rebound could be China stimulus and the US Dollar’s retreat ahead of this week’s key inflation and employment data.

However, late on Sunday, Australian Treasurer Jim Chalmers flagged expectations of witnessing substantially weaker Australian growth due to higher interest rates from the Reserve Bank of Australia and China's slowdown, which in turn prods the Aussie pair buyers. It’s worth noting, however, that weekend news from China suggests the introduction of one more measure to boost economic activity, via halving of the current stamp duty of 0.1% on stock trading. On the same line could be the news from the Wall Street Journal which cites people familiar with the decision-making process in China to highlight Chinese Communist Party Chairman Xi Jinping’s deep-rooted philosophical objections to Western-style consumption-driven growth, suggesting more stimulus ahead.

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