AUD/USD falls for straight fifth trading session on global slowdown fears

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• AUD/USD refreshes weekly low near 0.6560 as the broader market mood is risk-off.
• Fed Powell considered current monetary policy as inadequate to bring down inflation to 2%.
• The RBA MPS report indicated that further tightening would be largely dependent on incoming data.

The AUD/USD pair continues its losing streak for the fifth trading session as fears of a global slowdown have deepened after hawkish commentary from Federal Reserve (Fed) Chair Jerome Powell in his commentary at the International Monetary Fund (IMF) on Thursday.