AUDUSD ignores softer China inflation to increase as US Dollar eases on full markets’ return.

The AUD/USD pair has slipped below 0.6650 as China‘s Consumer Price Index (CPI) has softened despite various measures from the Chinese administration to stem economic recovery. The return of full markets brought together a risk-on mood during early Wednesday as traders seem less hopeful of Fed’s further rate hikes. Adding strength to the cautious optimism could be the upbeat expectations from China, as well as easing fears from banking fallouts.

The firmer sentiment joined downbeat US Treasury bond yields to weigh on the US Dollar and allowed the AUDUSD to cheer upbeat data at home, while also ignoring weak inflation at the largest customer China. NZDUSD, however, fails to cheer the upbeat risk profile despite grinding higher of late.

EURUSD and GBPUSD remain firmer as market players brace for a busy calendar during the holiday-shortened week amid hawkish calls for the ECB and the BoE.

Further, the Gold price snapped a two-day downtrend and the Crude Oil price prints the first daily gains in four whereas equities remain positive in the Asia-Pacific region despite mixed Wall Street closed.

BTCUSD and ETHUSD remain firmer at multi-day highs even as Bitcoin liquidations rally and Ethereum braces for the hard fork.

Below are the latest moves of the key assets:

• Brent oil prints the first daily gains in four around $85.00 by the press time.

• Gold also snaps two-day losing streak as bulls poke $2,005 as we write.

• USD Index retreats to 102.20 after rising in the last four consecutive days.

• Wall Street closed mixed but equities in the Asia-Pacific region, as well as shares in Europe and the UK, trade firmer afterward.

• BTCUSD and ETHUSD print notable gains near $30,150 and $1,930 at the latest.

https://mtrading.com/news/audusd-ignores-softer-china-inflation-to-increase-as-us-dollar-eases-on-full-markets-return