AUD/USD Relaxes Under 0.6950 During POBC Idleness

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


AUD/USD receives bids around 0.6950 while gathering its daily profits earlier today. For The pair to have achieved this, news of China’s worries about the world recession and the Fed’s rate increase has been of assistance.

Moving on, the POBC ( People’s Bank of China) kept its main monetary policy constant. These include the 5 and 1-year Loan Prime Rate which is kept at 4.5% and 3.75%. The POBC’s Idleness was the opposite of the western policymakers who were hawkish. However, the Western hawkishness was unable to put an offer under the AUD/USD prices.

Furthermore, a 10% decline in iron ore export: Australia’s main export, combines with Fed’s hawkish worries to burden the AUD/USD.

AUS/USD Relaxes Under 0.6950 During POBC Idleness

Additional News Affecting the AUD/USD Price

Worries of a difficult economic situation were raised by The Washington Post US the Fed raised its interest rate to 75 bps. This news reveals that the rate hike will test the economy on how the economy can do without unending credit. Also, it tests how well the economy can accommodate borrowing costs. These as well somehow affect the AUD/USD price.

While all these were happening, United States stock futures recorded moderate losses, as the US Treasury remained the same: 3.43%. All this happened during Juneteenth vacation in the US.

By tomorrow the minute of the Reserve Bank of Australia meeting, and the statement of Lowe: RBA Governor will be published. These will be very important for traders of AUD/USD to monitor. Another important event will be Jerome Powell’s speech for new impulse as he might be questioned about the recent rate hike and its effect on the economy.

You can purchase Lucky Block here.  Buy LBlock

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.