The US Dollar (USD) continued its bullish momentum, building on Monday’s robust rebound and keeping pressure on risk assets in the first half of the week.
AUD/USD added to the ongoing weakness and retested 0.6640. The Dollar added small gains to Monday’s strong rebound. Australia ’s Consumer Confidence eased a tad in September. The US Dollar continued its bullish momentum, building on Monday’s robust rebound and keeping pressure on risk assets in the first half of the week. In response, AUD/USD hovered around the 100-day Simple Moving Average near 0.6650, shedding ground for the third day in a row.
Despite this, RBA cash rate futures still indicate a high probability of a 25 basis point cut by the end of the year. Overall, the RBA is anticipated to be the last among G10 central banks to start cutting rates. However, with almost fully priced-in rate cuts from the Federal Reserve anticipated and the RBA likely to maintain a restrictive policy stance for an extended period, AUD/USD could see further gains later this year.
Australia RBA Currencies Recommended
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Price Forecast: Further upside now looks likelyAUD/USD resumed its upward trajectory, adding to gains recorded at the beginning of the week and surpassing the 0.6600 mark to print fresh three-week highs near 0.6620, a region coincident with the 100-week SMA.
Read more »
AUD/USD Price Forecast: Further gains appear in the pipelineOn Wednesday, AUD/USD finally broke above the key 0.6800 the figure for the first time since early January, flirting with yearly highs at the same time.
Read more »
AUD/USD Price Forecast: Further gains appear in the pipelineOn Wednesday, AUD/USD finally broke above the key 0.6800 the figure for the first time since early January, flirting with yearly highs at the same time.
Read more »
AUD/USD Price Forecast: Further volatility is not ruled outThe US Dollar (USD) reversed part of Tuesday’s gains on Wednesday, lending support to the risk-related assets and thus triggering a decent rebound in AUD/USD, which regained the 0.6750 zone following a brief drop to the sub-0.6700 region.
Read more »
AUD/USD Price Forecast: Price is at a crossroads – is it correcting or reversing lower?AUD/USD has been in an uptrend all through August. It reached a new peak of 0.6824 on August 29 and then pulled back.
Read more »
AUD/USD Price Forecast: First resistance emerges around 0.6650AUD/USD’s upward trend appears to have struggled around the 0.6650 zone so far, a region also coincident with the temporary 55-day SMA and close to the 61.8% Fibo retracement of the July-August steep sell-off.
Read more »