Risk Off Dominates as concerns over China’s latest outbreak rise
The risk off tone dominated price action as growing concerns over China’s latest coronavirus outbreak remained in focus, keeping the antipodeans pressured while supporting safe havens.
Alongside the risk off tone, AUD was further pressured by comments from RBA Deputy Governor Bullock, who stated that although rates would rise further, they are nearing the point where they could “sit and wait” for a while.
Given the above, AUDUSD briefly slipped below the 0.64 handle, while AUDJPY fell below the 94.00 handle, and EURAUD reclaimed the 1.56 handle.
Looking ahead, today’s main event will be US CPI in the upcoming US session. However, there are also central bank speakers scheduled throughout the day, including BoE’s Ramsden and Tenreyro, Fed’s Mester and George, and BoC Governor Macklem.
Alongside the risk off tone, AUD was further pressured by comments from RBA Deputy Governor Bullock, who stated that although rates would rise further, they are nearing the point where they could “sit and wait” for a while.
Given the above, AUDUSD briefly slipped below the 0.64 handle, while AUDJPY fell below the 94.00 handle, and EURAUD reclaimed the 1.56 handle.
Looking ahead, today’s main event will be US CPI in the upcoming US session. However, there are also central bank speakers scheduled throughout the day, including BoE’s Ramsden and Tenreyro, Fed’s Mester and George, and BoC Governor Macklem.