Bad China’s economic data paints a gloomy environment for Australia’s largest trading partner, a headwind for the AUD. A risk-off mood boosts the prospects of the US dollar. AUD/USD Price Forecast: The major could be subject to a mean-reversion move towards 0.7029 before resuming its downtrend. The Australian dollar records decent gains, despite weaker-than-expected Chinese economic
The uspide potential of the US dollar versus the Japanse yen is becoming more limited, warned analysts at MUFG Bank. They noted the USD/JPY pair is reverting to a traditional risk-on/risk-off patterns amid financial instability. Key Quotes: “The fact that US yields have been more sensitive to asset price declines than to higher than expected