The US Dollar (USD) faced some renewed downward pressure, partially erasing Monday’s optimistic move and coming in closer to the key support around the 106.00s neighbourhood when gauged by the Dollar Index (DXY).
AUD/USD managed to regain some balance after Monday’s sell-off. The US Dollar weakened, allowing some respite for the risk complex. The Australia n Current Account deficit widened in Q3. The US Dollar faced some renewed downward pressure, partially erasing Monday’s optimistic move and coming in closer to the key support around the 106.00s neighbourhood when gauged by the Dollar Index .
AUD/USD: What Lies Ahead The road ahead for the AUD/USD is filled with both risks and opportunities. The Aussie could gain traction if the Federal Reserve pivots toward rate cuts. However, challenges remain, including inflationary pressures stemming from US policies and the persistent strength of the Greenback. China’s economic slowdown continues to cast a long shadow over Australia’s growth outlook.
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