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AUD/USD: Pressured towards 0.7800 amid US dollar bounce, China inflation eyed


5/10/2021 9:35:52 PM GMT
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By Anil Panchal
AUD/USD holds lower ground after snapping three-day winning streak.
Market sentiment dwindles as traders await more clues to confirm no reflation fears.
Wall Street drops, US Treasury yields stay firmer.
China CPI, PPI for April, Second-tier Aussie data will decorate calendar, risk will be the key.
AUD/USD remains depressed towards the 0.7820 previous resistance, around 0.7830 at the start of Tuesday’s Asian session. The pair dropped the most in a week the previous day after taking a U-turn from late February tops as optimism towards Fed policy continuation fizzled. Traders look for this week’s key US inflation data but today’s China Consumer Price Index (CPI) and Producer Price Index (PPI) is also important to watch consider its trade-ties with Canberra, despite recent jitters. ....

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