AUD/USD aims higher as several potentially hard-hitting economic events out of China are set to cross the wires. Meanwhile, market sentiment remains on fragile footing after last week.
Bitcoin plunged after Tesla CEO Elon Musk announced that the company is suspending the acceptance of Bitcoin for purchases. Meanwhile, AUD/USD struggles against a sharply strong US Dollar.
The risk-sensitive Australian Dollar is holding gains despite a Wall Street selloff. Building permits out of Australia, Fedspeak, and industrial production data from India are in focus.
AUD/USD is slightly weaker but remains near multi-month highs as the currency pair eyes Chinese inflation data amid surging iron ore prices and a weak US Dollar.
AUD/USD looks to start the week on a positive tone after last week’s US NFP miss increased the expected timeline on ultra-loose global monetary conditions.
AUD/USD is tracking higher despite an overnight drop as tensions between China and Australia heat up further. Today’s PMI prints out of China, and the RBA policy statement may move sentiment.