The Aussie made a new intraday low around 0.7320, down 0.16% on a day, during the two-day downtrend by early Tuesday. The AUDUSD pair recently reacted to the Minute Statement of the Reserve Bank of Australia’s (RBA) latest monetary meeting. Also reducing the significance of the RBA Minutes is the market’s attention to the risk catalysts.
The latest RBA minutes highlighted the coronavirus impact on the Aussie economy while saying, “Recent outbreaks of the delta variant of Covid-19 had interrupted the recovery.”
The Delta covid variant fears gain major attention due to the stronger characteristics that resist vaccines and lower jabbing. As per the latest covid data, Aussie figures remain elevated near August 2020 levels surrounding 500 daily cases whereas infections in China and the US have been rising towards the early 2021 levels of late.
It should be noted that the uncertainty over the next moves of the Fed and careful sentiment beforehand of the US Retail Sales also weigh on the AUDUSD prices of late.
To represent the risk-off mood, the US 10-year Treasury yields remains pressured around 1.26%, down for the third consecutive day, while S&P500 step back from record top, down 0.18% by the press time.
[AUD/USD Chart]
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