The Australian dollar (AUD) extended its losses against the US dollar (USD) on Monday (6/16). The AUD/USD pair remained subdued for the second straight session amid rising tensions in the Middle East. The AUD held losses after the release of key Chinese economic data, given that Australia and China are close trading partners.
China Retail Sales rose 6.4% year-on-year in May, beating estimates of 5.0% and a 5.1% increase in April. Meanwhile, Industrial Production increased 5.8% YoY but below estimates of 5.9% and 6.1% previously.
Israel and Iran continue to exchange attacks despite international calls for diplomacy and de-escalation, according to CNN. Iran fired several waves of ballistic missiles at Israel. Iran's 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 a wave of attacks on Friday, according to Iran's Health Ministry.
Iran has told mediators Qatar and Oman that Tehran "will not negotiate under attack," according to an official briefed on the negotiations. The source said that "reports that Iran has contacted Oman and Qatar with a request to involve the United States to broker a ceasefire with Israel and possibly renew nuclear negotiations are inaccurate."(alg)
Source: FXstreet
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