AUD/USD retreats towards 26-month low near 0.6700 as recession fears dominate – by anilpanchal7 AUDUSD RiskAppetite Recession Inflation Employment
In addition to the risk-off mood, mixed sentiment data from Australia and caution ahead of Thursday’s Aussie employment numbers also exert downside pressure on the AUD/USD prices of late.
On a major front, a record high print of the US one-year inflation expectations, as per the NY Fed’s survey of one-year-ahead consumer inflation expectations, join chatters surrounding economic slowdown to weigh on the AUD/USD prices. That said, the NY Fed’s inflation precursor jumped to 6.8% in June, versus 6.6% prior.
Considering the data, White House Press Secretary Karine Jean-Pierre told reporters that she expects new Consumer Price Index data to be highly elevated. Further,said that recent inflation data has not been as encouraging as I would have liked, per Reuters.
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