The Aussie remains uncertain after reversing from a two-week top, now hovering around the 0.7150 area. Bears seem to have the upper hand due to Fed rate hike chatters, China news and Omicron variant updates.
A Japanese study saying Omicron is four-time more transmissible than the other covid strains join the return of lockdowns in Europe and the UK, as well as defensive measures in parts of the US, to renew Covid-19 fears. On the other hand, global policymakers followed scientists suggesting three vaccine shots as effective against the virus variant.
On a different matter, there are key obstacles for the Beijing Olympics 2022 join rating giant Fitch’s negative comments over China’s Evergrande and Kaisa to mark challenges for Australia’s largest customer, China.
Looking forward, the today’s US Consumer Price Index (CPI) for November is important ahead of next week’s Federal Open Market Committee (FOMC) meeting will keep Aussie traders on their toes.
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