AUD/USD retreats from 0.6300 on downbeat Australia Consumer Confidence, mixed mood – by anilpanchal7 AUDUSD RiskAppetite RBA Fed Recession
y’s sluggish Asian session. Also exerting downside pressure on the quote could be the divergence between the recent monetary policy bias of the Reserve Bank of Australia and the US Federal Reserve .
The reason for pessimism in the Pacific’s biggest economy could be linked to the slowdown fears surrounding its biggest customer China. Recently, the People’s Bank of China had to intervene in the markets to defend the easy money policy and safeguard the troublesome reality sector to avoid recession. Even so, the dragon nation’s zero covid policy weighs takes a toll on the economic activities of China, as signaled by the latest PMIs from the nation.
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