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AUD/USD falls on firmer US Dollar

Mohamed Abdelhamid 21 November, 2022 9:22 pm Forex Market, Market Update

The Australian dollar fell for the fourth straight day due to risk aversion after reports said the latest China Covid-19 outbreak caused three deaths during the weekend. China’s authorities eased some restrictions. The news boosted the US dollar amid growing concerns about reimposing lockdowns.

Wall Street is witnessing investors who are apparently worried about China’s potential Covid outbreak, extending losses of US stocks in the day.

Data wise, Chicago National Activity index falling to negative territory in October, to -0.05 from 0.17 in September. Elsewhere, the US Dollar Index climbs sharply by 0.80%, at 107.823, a headwind for the Australian Dollar.

Aside from this, an absent Australian economic calendar leaves AUD/USD traders in the direction set be market sentiment.

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