AUD/USD eases to the 0.7160 area (tech 0.7167) from a ~0.7220 peak as hot PPI firms the dollar. China ~$54B financial stimulus and RBA hike bets still support; oil near $100.
The Australian dollar eased from recent highs on Thursday as a firmer US dollar after hot PPI capped the rebound.
The Australian Dollar eases from a four-month high, slipping back below the 0.7200 mark and trading in the 0.7160 area after a recent peak around 0.7220; technical reading stamps AUD/USD at 0.7167.
Beijing is reportedly preparing a $54 billion stimulus package aimed at propping up its banking and wider financial sector. A run of hawkish comments from RBA officials, together with oil holding near $100 a barrel, has pushed traders to price in a rate rise later this month. Separately, investors increasingly think the Fed may have to raise rates in September, as PPI rose 5.4% in the year to August.
Follows AUD/USD Wed ~0.7237.
Informational only. Not trading advice, signals, or a guarantee of any market outcome.
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