AUD/USD flirts with lows near 0.7100 amid fresh trade worries, risk-off
|- Risk-off amid fresh trade worries, downbeat Aussie data weigh negatively
- Focus on US economic release, risk sentiment for the next moves.
AUD/USD is on a steady decline so far this Asian session on Friday, now struggling around the 0.71 handle, having hit fresh session lows at 0.7095 some minutes ago.
The overnight bounce in the Aussie faded at 0.7120 and from the Aussie witnessed a fresh leg lower, despite the renewed US dollar selling across the board, as the Australian flash manufacturing PMI dropped to 52.0 vs. 52.9 previous.
Moreover, a renewed risk-aversion wave gripped the Asian markets amid latest US-North Korea issue while the report that China is said to impose temporary antidumping measures on some products from the European Union (EU), Japan, South Korea and Indonesia further dented the risk sentiment, with the higher-yielding Treasury yields continuing to remain in the red following the Fed’s outright dovishness.
Attention now turns towards the US macro news due later on Friday, including Markit manufacturing and services PMI reports, existing home sales and wholesale inventories, for fresh trading impetus. In the meantime, the USD dynamics and risk trends will continue to have a major bearing on the spot, as markets keep an eye on fresh trade-related developments.
AUD/USD Technical Levels
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