Aussie is quickly approaching the 38.2% retracement of the latest daily advance AUD AUDUSD $AUD $AUDUSD
Chinese inflation reached 1.5% YoY in March, above the market’s forecast.fell for a fourth consecutive day, trading near a fresh three-week low of 0.7413. the Australian dollar fell on the back of the ruling risk-off mood, but was also affected by political uncertainty as the country is going into a general election on May 21.
Australia did not publish relevant macroeconomic data, but China unveiled its March inflation data on Monday. The Consumer Price Index jumped to 1.5% YoY, while the Producer Price Index hit 8.3% YoY. On Tuesday, Australia will release March NAB’s Business Conditions, foreseen at 16 from 9 previously, and NAB’s Business Confidence, expected at 8 from 13 in February.
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