AUD/USD sellers ignore Wednesday’s Doji to aim for 0.6215 ahead of US CPI – by anilpanchal7 AUDUSD
portrays the market’s cautious mood while also ignoring the bullish candlestick formation at the multi-month low marked the previous day.
Talking about the negatives, fresh lockdowns in Shanghai and Hong Kong’s determination to keep the covid-linked entry barrier intact weigh on the AUD/USD prices due to Australia’s trade ties with China. On the same line are fears of an energy crisis in theA pause in the heading Treasury yields, after a two-day downtrend, also seems to underpin the AUD/USD weakness, via the US dollar strength. Additionally, downbeat prints of Australia’s Consumer Inflation Expectations for October, to 5.
It should be noted that the recently softer US inflation expectations and a retreat in the hawkish Fed bets seem to challenge the pair sellers. Further, talks that China’s state authorities are buying houses as a part of the stimulus also should have put a floor under the AUD/USD pair. seems to help the AUD/USD pair in grinding lower. That said, forecasts suggest that the headline US CPI is expected to ease to 8.1% YoY versus 8.3% prior.
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