The AUD/USD pair witnessed a minor setback at 0.6575 during Friday's session, a modest descent of 0.30%.
AUD/USD slightly retreats, settling near 0.6575 on Friday. RBA reiterates its hawkish stance, contributing to a buoyant AUD. Investors digest Chinese inflation reported during the European session. The AUD/USD pair witnessed a minor setback at 0.6575 during Friday's session, a modest descent of 0.30%. That being said, the Reserve Bank of Australia's unwavering hawkish discourse and stronger Chinese inflation figures might limit the downside for the Aussie.
The health of the Chinese economy, its largest trading partner, is a factor, as well as inflation in Australia, its growth rate and Trade Balance. Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD.
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