AUD/USD sticks to gains around 0.6580, bulls seem non-committed despite softer USD – by hareshmenghani AUDUSD NFP Fed China Currencies
demand, though spot prices remain below Friday's swing high touched in reaction to the mixed US monthly employment details.
The Australian Dollar continues to draw support from the Reserve Bank of Australia's hawkish quarterly Statement on released on Friday, which indicated that interest rates may still need to go higher. Adding to this, Commerce Ministry announced that the country will lift the anti-dumping and anti-subsidy tariff on barley imports from Australia, which turns out to be another factor acting as a tailwind for the Aussie.
Apart from this, a softer tone around the Asian equity markets, along with China's economic woes, further contributes to keeping a lid on the risk-sensitive Aussie and warrants caution for bulls. Traders now look to speeches by influential FOMC members for some impetus in the absence of any relevant market-moving economic data from the US on Monday.
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 prints unimpressive week-start below 0.6600, Australia/US inflation clues eyedAUD/USD kick-starts the inflation week with no major changes, making rounds to around 0.6570, while defending the last two days’ corrective bounce off
Read more »
Trading Support and Resistance \u2013 EUR/USD, USD/CHFThis week I will begin with my monthly and weekly Forex forecast of the currency pairs worth watching.
Read more »
USD holds 7th annual interactive STEAM event for young studentsOn Saturday, the students and their families participated in hands-on projects and experiments related to science, technology, engineering, arts and math.
Read more »
GBP/USD: Weekly Forecast 6th August - 12th AugustDay traders have continued to have their tolerance tested in the GBPUSD as another week of volatile results rocked the currency pair downwards.
Read more »
EUR/USD: Weekly Forecast 6th August - 12th AugustAfter testing lower values late in the week that had not been seen since the first week of July, the EUR/USD recovered before going into the weekend.
Read more »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, USD/JPY, Cocoa FutMarkets became increasingly bearish this week after Fitch\u2019s downgrade of its US rating, posting an \u201Ceverything selloff\u201D which saw almost every trend rally hit q
Read more »