{"id":123814,"date":"2023-07-18T01:45:21","date_gmt":"2023-07-18T01:45:21","guid":{"rendered":"https:\/\/dripp.zone\/news\/aud-usd-retreats-towards-0-6800-as-rba-minutes-fail-to-impress-aussie-bulls-ahead-of-us-retail-sales-crypto-news\/"},"modified":"2023-07-18T01:45:23","modified_gmt":"2023-07-18T01:45:23","slug":"aud-usd-retreats-towards-0-6800-as-rba-minutes-fail-to-impress-aussie-bulls-ahead-of-us-retail-sales-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/aud-usd-retreats-towards-0-6800-as-rba-minutes-fail-to-impress-aussie-bulls-ahead-of-us-retail-sales-crypto-news\/","title":{"rendered":"AUD\/USD retreats towards 0.6800 as RBA Minutes fail to impress Aussie bulls ahead of US Retail Sales\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"fxs_article_content\">\n<p>\n                        <span class=\"fxs_socialmedia_bar_share_label\">Share:<\/span><\/p>\n<ul>\n<li><strong>AUD\/USD reverses from intraday high after unimpressive RBA Minutes.<\/strong><\/li>\n<li><strong>RBA Minutes for July suggest policymakers&#8217; readiness for an August rate hike, if needed. <\/strong><\/li>\n<li><strong>Cautious optimism, US-China news joins pre-data positioning to underpin AUD\/USD run-up.<\/strong><\/li>\n<li><strong>US Retail Sales, risk catalysts eye for clear directions ahead of Thursday&#8217;s Aussie job reports.<\/strong><\/li>\n<\/ul>\n<p>AUD\/USD reverses from the intraday high to around 0.6815 after the Reserve Bank of Australia&#8217;s (RBA) July Monetary Policy Meeting Minutes, published early Tuesday.  In doing so, the Aussie pair fails to cheer the downbeat US Dollar, as well as the risk-positive headlines surrounding China.<\/p>\n<p>As per the RBA&#8217;s July month Monetary Policy Meeting Minutes, &#8220;the board agreed some further tightening may be required,&#8221; adding that &#8220;they would reconsider at the August meeting.&#8221; <\/p>\n<p>Also read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/news\/rba-minutes-board-agreed-some-further-tightening-may-be-required-would-reconsider-at-august-meeting-202307180133\">RBA Minutes: Board agreed some further tightening may be required, would consider at August meeting<\/a><\/p>\n<p>With this, the Aussie pair pauses on the way to the 0.6900 upside hurdle amid cautious optimism in the market, backed by the hopes of improving the US-China ties and receding hawkish Feds.  That said, Monday&#8217;s downbeat US NY Empire State Manufacturing Index for July joined the previous week&#8217;s disappointing US inflation results to weigh on the US Dollar and underpin cautious optimism in the market.<\/p>\n<p>It should be noted that US Climate Envoy John Kerry is in China to mark another effort by the Washington to improve the Sino-US ties.  That said, the US policymaker met China&#8217;s top diplomat Wang Yi during early Tuesday while saying, per Reuters, &#8220;Our hope is now that this could be the beginning of new cooperation to resolve the differences between us.&#8221;<\/p>\n<p>Elsewhere, the US Dollar Index (DXY) drops to 99.76 while reversing Friday&#8217;s corrective bounce off the lowest level since April 2022 as the US statistics fail to inspire Fed hawks even as July rate hike is already a given.<\/p>\n<p>Amid these plays, S&#038;P500 futures appear indecisive while struggling to trace Wall Street&#8217;s gains whereas the US Treasury bond yields remain depressed and weigh on the US Dollar.<\/p>\n<p>Looking ahead, US Retail Sales for June, expected to rise to 0.5% versus 0.3% prior, will be crucial to watch for clear directions of the AUD\/USD.  Also important will be the US Industrial Production for June, expected -0.1% versus -0.2% prior, as well as the US-China headlines and the bond market moves as Japan returns from a long weekend.<\/p>\n<h2 class=\"fxs_headline_medium\">technical analysis<\/h2>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fxstreet.com\/currencies\/audusd\">AUD\/USD<\/a> Bounces off the 5-DMA level immediate support, around 0.6820 by the press time, to restore a run-up targeting the 0.6900 hurdle comprising tops marked in June-July.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Share: AUD\/USD reverses from intraday high after unimpressive RBA Minutes. RBA Minutes for July suggest policymakers&#8217; readiness for an August rate hike, if needed. Cautious optimism, US-China news joins pre-data positioning to underpin AUD\/USD run-up. US Retail Sales, risk catalysts eye for clear directions ahead of Thursday&#8217;s Aussie job reports. AUD\/USD reverses from the intraday [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[377,201,248,251,297,246,257,366,255,250,252,247,253,378,4853,249,256,254],"class_list":["post-123814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-audusd","tag-blockchain","tag-bsc","tag-chainlink","tag-china","tag-coin","tag-cryptocurrency","tag-fed","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-rba","tag-risk-aversion","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123814","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=123814"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123814\/revisions"}],"predecessor-version":[{"id":123815,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/123814\/revisions\/123815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7798"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=123814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=123814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=123814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}