The Aussie air sellers attacked 0.7200 price as the AUDUSD showed a four-day downtrend amid the initial Asian session on Tuesday.
The latest weakness could be connected to the highest covid-19 linked deaths from Australia’s most populous state, as well as cautious mood ahead of the bond trading resumption following Martin Luther King’s Birthday. Also responsible for the AUDUSD weakness is the downbeat weekly sentiment data.
Australia’s ANZ Roy Morgan Weekly Consumer Confidence Index for the period ended on January 16 dropped below 106.00 to 97.9.
It’s worth noting that virus numbers in Australia have been declining in the last four days but the death toll jumped in the nation’s most populous state New South Wales (NSW).
Looking forward, investors will pay close attention to the US Treasury yields in the hope of the faster Fed rate hikes in 2022, backed by Federal Reserve Bank of San Francisco President Mary Daly and New York Fed President John Williams on Friday.
Even though the economic calendar is mostly silent ahead of Australia’s key jobs report on Thursday, a further surge in the yields can weigh on the AUDUSD prices.
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