AUD/USD refreshes day high near 0.6650 as upbeat Aussie Employment stems more rates from RBA AUDUSD RBA Fed SEO RiskAversion
m the US Dollar Index . The Aussie asset has stretched its recovery from below the round-level support of 0.6600 as investors are paring positions from the USD Index, backed by fears of the global banking crisis.
A few days back, market participants were anticipating bigger rates announcement from the Federal Reserve as January’s United States economic data conveyed the inflationis extremely stubborn. However, the release of the downbeat US Retail Sales and lower-than-anticipated Producer Price Index figures on Wednesday after softening of the Consumer Price Index and the print of a higher Unemployment Rate have conveyed that January’s data was a one-time blip.
This indicates that the labor demand is extremely solid and further requirements of talent will be offset by higher offerings from the firms. Escalating labor cost index is sufficient to fuel inflationary pressures further. RBA Governor
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