AUD/USD drops to lows below 0.7650 post-mixed China’s inflation, RBA

The Aussie drops nearly 25-pips as the retreat extends on mixed China’s inflation. RBA’s warning on excessive lending risks adds to the weight on AUD/USD. US dollar holds the lower ground amid dovish Powell, ahead of US PPI data. AUD/USD is trading under pressure below 0.7650, having turned south from daily highs of 0.7661 on mixed Chinese inflation figures and a cautious tone seen in the RBA’s Financial Stability Report (FSR). The annualized Chinese Consumer Price Index (CPI) and Producers Price Index (PPI) outpaced expectations. However, the monthly CPI came in below forecasts at -0.5% in March, showing that … (full story)

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