The Australian Dollar (AUD) strengthened against the US Dollar (USD) on Monday, buoyed by improved risk sentiment amid easing geopolitical tensions.
Reports from The Wall Street Journal indicate that Iran is signaling openness to negotiations with the United States (US), prompting optimism about a potential de-escalation in the recent Israel-Iran tensions.
Diplomatic efforts are gaining momentum as international stakeholders, including the United States, Saudi Arabia, and the United Nations, continue to urge restraint and dialogue to prevent further escalation.
Additionally, economic data from China released early in the Asian trading session provided mixed signals but overall helped stabilize market sentiment.
While China's Industrial Production and Fixed Asset Investment figures for May fell short of expectations, posting annual declines, robust Retail Sales data mitigated concerns about broader economic weakness.
Given that China is Australia's largest trading partner, shifts in Chinese economic activity have a direct impact on Australian economic prospects.
Further supporting the AUD/USD pair was notable weakness in the US Dollar following a disappointing Empire State Manufacturing Index report.
The June reading came in at -16.0, markedly below market expectations of -5.5, and representing its weakest performance since March.
The significant miss underscores mounting concerns about contraction within the US manufacturing sector and adds uncertainty to the outlook for US economic momentum, placing downward pressure on the USD.
Source: Fxstreet
The Australian dollar held steady around $0.651 on Thursday, holding onto recent gains after the September trade surplus widened sharply to AUD 3.94 billion (vs. August's revised AUD 1.11 billion), be...
The Australian dollar weakened to around $0.647, hitting its lowest level in eleven weeks. This decline continued as risk-off sentiment in global markets intensified, overshadowing the Reserve Bank of...
AUD/USD firms as traders brace for Australia Q3 inflation data and Fed decision The Australian Dollar (AUD) edges higher against the US Dollar (USD) on Tuesday, extending its winning streak for the f...
The Australian dollar (AUD) rose to around $0.656 on Tuesday, its highest level in nearly three weeks. This increase was primarily due to the weakening US dollar (greenback). US market participants aw...
The Australian dollar strengthened against the US dollar on Wednesday, recouping the previous session's losses. This boost came from comments by RBA Assistant Governor Sarah Hunter: recent data appear...
Japanese stocks are higher thanks to a weaker yen and hopes for domestic earnings growth. Tech and energy stocks are leading gains. NEC is up 2.7% and Inpex is 2.3% higher. Meanwhile, Honda Motor is down 3.8% after it cuts its fiscal-year earnings...
China has begun designing a new rare earth licensing regime that could speed up shipments, but it is unlikely to amount to a complete rollback of restrictions as hoped by Washington, industry insiders said. The Ministry of Commerce told some rare...
Gold edges higher in early Asian trade amid signs of U.S. economic weakness which typically enhance the safe-haven allure of the precious metal. The University of Michigan survey's headline index fell to 50.3 in November, from 53.6 last month,...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated...
Two weeks before the US Federal Reserve's final meeting, with the federal government's data taps closed, Atlanta Fed staff bolstered their economic...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the...
European markets opened higher on Friday (November 7th), recovering some of the previous session's losses amid concerns about an AI bubble. The...