AUD/USD Records Biggest Daily Fall in a Month, US Inflation Eyed| FXMAG.COM

AUD/USD Records Biggest Daily Fall in a Month, US Inflation Eyed

AUD/USD slipped to 0.7083 in early Friday Asian session, a level last seen on 26 May, following the biggest daily fall in a month. The cautious mood is ahead of the US CPI data release later today (15.30MT). Underwhelming China inflation data has also weighed on the currency pair. China's Consumer Price Index (CPI), landed at a similar level to the previous month at 2.1% compared to the forecasted 2.2%.

The downwards pressure on AUD/USD is thought to stem from Heightened fears of faster rate hikes, growing concerns over hot inflation, and China's COVID situation

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AUD/USD Records Biggest Daily Fall in a Month, US Inflation Eyed

ICM.COM Market Updates

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