AUD/NZD retreats towards 1.1200 on strong NZ Q2 GDP, Australia Employment data eyed – by anilpanchal7 AUDNZD GDP Employment RiskAppetite Crosses
e cross-currency pair remains mildly offered, most cautious, as traders await Australia’s jobs report for August.
With the firm NZ GDP, the odds of the Reserve Bank of New Zealand’s stronger rate hikes escalated, which in turn favored the New Zealand dollar . Also exerting downside pressure on the AUD/NZD pair are the cautious statements from the Reserve Bank of Australia at the latest. Elsewhere, fears surrounding China’s economic recovery and the dragon nation’s readiness for heavy stimulus join the geopolitical tussles between the Washington and Beijing to challenge the pair traders. Also, the Russia-Ukraine war and the energy crisis in Europe are some extra catalysts that restrict the pair’s upside momentum.
While portraying the mood, the Wall Street benchmarks printed mild gains while the Treasury yields retreated from the multi-day high, posting mild losses at the end.
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