AUD/USD struggles near 0.6650, RBA’s Bullock, US inflation and Fed Minutes eyed – by anilpanchal7 AUDUSD RiskAppetite RBA Fed Inflation
That said, Australia’s Westpac Consumer Confidence for April rallied to the highest levels since June 2022, printing 9.4% figure versus 0.8% expected and 0.0% prior. Further, the National Australia Bank’s Business Conditions matched the forecast figure of 16.0, versus 17.0 prior, whereas NAB Business Confidence eased to -1.0 versus 0.0% expected and -4.0% previous readings.
Further, China’s ending of military strikes near Taiwan and mixed comments from the US Federal Reserve officials also allowed the AUD/USD bulls to remain firmer. However, the market’s receding optimism towards the further rate hikes and mixed comments from the International Monetary Fund , as well as softer China inflation, to prod the AUD/USD.
Elsewhere, IMF revised down global real Gross Domestic Product growth forecast for 2023 to 2.8% from 2.9% in January's report. However, the global lender kept growth estimations for China intact as 5.2% for 2023 and 4.5% for 2024.
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