AUD/USD climbs above 0.6920 on upbeat Australian Trade Balance data – by Sagar_Dua24 Fed Inflation China TradeBalance AUDUSD
. The economic data has jumped to 13,201M vs. the consensus of 10,500M and the former release of 12,217M.
Earlier, the Aussie asset displayed topsy-turvy moves as investors are restricting themselves from building significant positions before the release of the United States Consumer Price Index data. S&P500 futures are showing marginal selling pressure after back-to-back firmer bullish sessions, portraying anxiety among investors ahead of the US inflation data. The US Dollar Index continued its struggle around 103.00 amid weak trading activity. Meanwhile, the 10-year US Treasury yields have shown a recovery move and have rebounded above 3.56%.
Analysts at RBC Economics expect annual United States consumer price growth to slow significantly in December to 6.3% from 7.1%, recorded in November. The steep decline in headline price growth is largely thanks to a significant drop in energy prices. They expect ‘core’ price growth to slow to 5.6% YoY in December from 6.0% in October.has witnessed carnage in the past few weeks and only a surprise rise in inflation figures could provide a cushion ahead.
Going forward, the Australian Dollar will witness action after the release of China’s CPI data. According to the estimates, annual CPI is set to improve to 1.8% from the former release of 1.6%. While the monthly figure may contract by 0.1% against the prior release of -0.2%. Also, the
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