AUD/USD rebounds from intraday low of 0.6590 on upbeat China Caixin Services PMI, US data, RBA eyed

Share:

• AUD/USD picks up bids to recover from intraday low on upbeat China data.
• China Caixin Services PMI for May matches upbeat market forecasts, Aussie inflation clues also came in firmer.
• Sluggish sentiment, pre-RBA anxiety and hawkish Fed bets keep Aussie bears hopeful.
• US Factory Orders, ISM Services PMI may direct intraday moves, RBA is the key.

AUD/USD pares intraday losses around 0.6600 after China’s private activity gauge flashes upbeat signals during early Monday. Adding strength to the Aussie pair’s corrective bounce could be the initial Asian session release suggesting higher inflation in Australia.