- AUD/USD edged lower Thursday, amid concerns about the worsening of US-China relations.
- Better than expected aussie macro data has failed to impress the bulls, or provide an impetus.
- Thursday’s decision by the ECB could affect the USD as the dynamic ahead of the us jobless claims.
The pair AUD/USD remained on the defensive through the Asian session, the Thursday and was last seen trading near the lower end of its daily trading range, just below the 0.6900 mark.
Concerns about a new escalation in the united states-China tensions kept a member of the recent optimism about the global economic recovery from the corona virus of the pandemic. This, in turn, has led some do not have flows to the U.S. dollar and exerted some pressure on the perception of riskier Australian dollar.
The Relations between the two biggest economies soured after the united states suspended the flights of passengers of four airlines in China, and the United States, effective 16 June. The movement was in retaliation to China’s decision to bar U.s. companies from re-entering China.
During this time, bullish traders seemed to be rather impressed, Thursday, better-than-expected release of the trade balance and the monthly retail sales in Australia. The AUD/USD pair has fallen more than five months tops as a set in the previous session, but did not have a strong follow-up.
Investors now await fresh catalyst, prior to the positioning of the next pair of the leg of a directional move. In the meantime, the latest monetary policy update by the European Central Bank will have its impact on the dollar of the request, and will provide some impetus to the AUD/USD pair.
Apart from this, the Initial release Weekly Jobless claims data from the united states will also be considered to take a little of the short-term trading and when, later, at the beginning of the North American session.