AUDUSD retreats towards 0.6750 on geopolitical fears, focus on Aussie Wage Price Index, US Retail Sales – by anilpanchal7 AUDUSD RiskAppetite Ukraine Macroeconomics Currencies
The Aussie pair’s latest weakness could be linked to the headlines surrounding Russia’s missiles that struck Poland, a North Atlantic Treaty Organization nation. Following that hit, the global leaders criticized Moscow’s attempt whole the NATO ambassadors called for an emergency meeting even if Russia's defense ministry denied claims of Moscow’s strike on Poland.
Just after the news broke Wall Street pared initial gains and the US Treasury yields rebounded from the intraday low. That said, the S&P 500 Futures print mild losses by the press time. The risk-off mood underpins the US Dollar’s safe-haven demand and weighs on the AUDUSD prices, mainly due to the pair’s risk barometer status.
On Tuesday, the Reserve Bank of Australia’s openness for all moves joined the absence of major negatives from the Group of 20 Nations meeting in Indonesia to favor the AUDUSD prices initially. On the same line was China’s readiness for more stimulus and the softer US Producer Price Index for October and the Federal Reserve Bank of New York's Empire State Manufacturing Index for the said month.
Given the latest risk aversion, as well as the pre-data caution, the AUDUSD pair is likely to remain pressured ahead of Australia’s Wage Price Index for the third quarter , expected 0.9% QoQ versus 0.7% prior. That said, an improvement in the wages could help the
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