Published: 2024-08-05T05:06:26.000Z
AUD/USD flows: Slipping in risk off atmosphere
FX Analyst
1
Australian July Services PMI 50.4 but composite 49.9
Australian July private inflation survey 0.4% m/m and 2.8% y/y
Despite regional equities are faring better, the USD is preferred in times of broad risk off atmosphere. The Australian private inflation survey also shows inflation expectation to continue to tread lower which may push back RBA's stance in late easing.
The AUD/USD is down 0.3% at 0.6492.