AUD/USD trades near 0.7020 ahead of China CPI release
The Australian Dollar has declined for the second consecutive day, with AUD/USD trading around 0.7020 during Asian hours on Wednesday.
Traders are awaiting the release of China’s Consumer Price Index and Producer Price Index data for May, which is expected to impact the AUD.
The data release is significant as China is a close trading partner of Australia, and the inflation figures may influence the AUD’s movement against the USD.