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The Australian Dollar declines due to risk aversion amid escalating Israel-Iran tensions. China’s Retail Sales climbed 6.4% YoY in May, against the market expectations of 5.0% rise. The Iranian Revolutionary Guard fired multiple missiles targeting Israeli military-industrial centers and fuel facilities. The Australian Dollar (AUD) extends its losses against the US Dollar (USD) on Monday. The AUD/USD pair remains subdued for the second consecutive session due to escalating tensions in the Middle East. The AUD holds losses following the release of Chinese key economic data, given Australia and China are close trade partners. China’s Retail Sales rose 6.4% year-over-year in May, surpassing the 5.0% expected and April’s 5.1% increase. Meanwhile, Industrial Production increased 5.8% YoY but below the 5.9% forecast and 6.1% prior. Israel and Iran continue attacking each other despite international calls for diplomacy and de-escalation, per CNN. Iran fired multiple waves of ballistic missiles toward Israel. The Iranian Revolutionary Guard said their missiles successfully targeted Israeli military-industrial centers and fuel facilities. According to local Officials, 224 people have been killed in Iran and 14 in Israel. At least 1,277 people have been injured since Israel launched the wave of attacks on Friday, according to the Iran’s Ministry of Health. Iran informed mediators Qatar and Oman that Tehran “will not negotiate while under attack,” according to an official briefed on the negotiations. The source said that “Reports Iran has approached Oman and Qatar with a request to engage the United States to broker a ceasefire with Israel and potentially renew nuclear negotiations are inaccurate.” Australian Dollar declines as US Dollar appreciates amid rising geopolitical tensions The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is recovering losses and trading higher at around 98.10 at the time of writing. The US Michigan…

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Filed under: News - @ June 16, 2025 3:20 am