AUD/USD slumps as the rate cut at the largest customer worry the Aussie traders. Aussie unemployment rate disappointed earlier, risk-tone remains mildly positive considering Chinese diplomats’ efforts. Coronavirus updates, the US data will be important for now. AUD/USD slumps to 0.6649, the fresh low since February 2009, after China’s PBOC announced Interest rate cut during the early Thursday. PBOC matched market expectations… Following the largely anticipated move, the People’s Bank of China (PBOC) announced a 0.10% cut to its benchmark interest rates. Details suggest a 1-year loan prime rate is at 4.05% versus 4.15% a month earlier whereas a 5-year loan prime rate at 4.75% against 4.80% a month earlier. Read: Breaking: The People’s Bank of China cut interest rates: AUD and Yuan sliding The central bank announced a reduction in its medium-term lending facility (MLF) earlier during the week and has already signaled that the rate cut is coming. Aussie bears the burden following employment data… Earlier during the day, Australia’s employment data for January failed to cheer the better than forecast Employment Change as Unemployment Rate snapped the two months losing streak with more than expected figure of 5.3%. Read: AUD/USD drops following higher than expected Aussie Unemployment Rate Prior to that, Australia’s fourth quarter (Q4) Wage Price Index remained unchanged around 0.5% QoQ the previous day. Coronavirus uncertainty prevails… China’s coronavirus continues to flash mixed signals with the latest numbers from Hubei following a re-revised pattern and mark a sharp decline in the infected counts. However, the market’s cheer the Chinese policymakers’ efforts to placate traders with all the efforts they can. The World Health Organization (WHO) also supports the dragon nation and helps the risk-tone. As a result, the 10-year US treasury yield register gains for the second day to 1.576% by the press time whereas stocks in Australia mark gains worth 0.50% to 7,187 by the press time, as per the ASX 200. While coronavirus updates will be the key to watch for the near-term direction, investors will also await the US Philadelphia Fed Manufacturing Survey data to confirm the greenback’s latest surge. Technical Analysis With the sustained break of 0.6660, AUD/USD prices are declining towards 0.6600 round-figure before targeting late-February 2009 top surrounding 0.6545. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/CNH: China rate cut weighs over Yuan FX Street 2 years AUD/USD slumps as the rate cut at the largest customer worry the Aussie traders. Aussie unemployment rate disappointed earlier, risk-tone remains mildly positive considering Chinese diplomats’ efforts. Coronavirus updates, the US data will be important for now. AUD/USD slumps to 0.6649, the fresh low since February 2009, after China’s PBOC announced Interest rate cut during the early Thursday. PBOC matched market expectations… Following the largely anticipated move, the People’s Bank of China (PBOC) announced a 0.10% cut to its benchmark interest rates. Details suggest a 1-year loan prime rate is at 4.05% versus 4.15% a month earlier whereas a 5-year… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.