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AUD/USD fades after two successive day gains. The pair has been pressured around 0.7345 at the start of Tuesday’s Asian session.
The AUD overcame firmer US Dollar Index and Treasury yields to mark a positive week’s start before easing from 0.7371 ahead of the RBA’s latest monetary policy meeting minutes and a speech from Governor Philip Lowe, Tuesday.
A surprisingly strong China Retail Sales and Industrial Production data for October joined the People’s Bank of China’s liquidity injection to offer a positive start to the AUD/USD prices.
China Retail Sales rose past 3.5% market forecast and 4.4% prior to 4.9% YoY whereas Industrial Production jumped to 3.5% versus 3.0% expected and 3.1% prior release.
