AUD/USD seesaws around 0.7050 as traders eye Aussies PMI and Fed’s decision – by christianborjon AUDUSD Majors Macroeconomics
he Australian Dollar stages a recovery, and although finished with losses, they were minimal. As the Asian session begins, the AUD/USD is trading at 0.7053, almost flat.Wall Street finished on a higher note in January. US corporate earnings and recentrevealed by the Labor Department weighed on the greenback, which is losing, as the US Dollar Index shows, 0.15%, down at 102.089. The Employment Cost Index , a measure of wage inflation, cooled as data showed, down from 1.2% to 1% QoQ.
Aside from this, Australian Retail Sales for December disappointed analysts, tumbling to -3.9% MoM vs. -0.3% estimations, reported the Australian Bureau of Statistics . Even though it was the first drop in 2022 after eleven months of consecutive monthly rises, sales fell sharply, with department stores, among other sectors like clothing, footwear, and personal accessories, sliding to -27%.
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