The Australian Dollar (AUD) holds ground against the US Dollar (USD) on Friday after two days of losses. The AUD/USD pair depreciated as the Greenback received support from the stronger-than-expected economic data from the United States (US).
The AUD also faced downward pressure from risk aversion after the US President Donald Trump shared plans to impose a 100% tariff on imports of branded or patented pharmaceutical products from October 1, unless a pharmaceutical company is building a manufacturing plant in the US, per Reuters.
Australia's Monthly Consumer Price Index (CPI), which climbed by 3.0% year-over-year in August, following a 2.8% increase reported in July. The ASX 30 Day Interbank Cash Rate Futures indicate that markets now price just a 4% chance of a September rate cut. According to Reuters, prospects for a Reserve Bank of Australia (RBA) rate reduction at its November meeting faded to 50% from almost 70% before the data.
Source: FXstreet.com
The Australian dollar (AUD) held strong at the start of the week after strong Australian inflation data, while the US dollar weakened as market sentiment grew cautious due to the US-Greenland dispute....
The Australian Dollar is the best performer among major currencies in an otherwise calm start tobe the year. The Aussie appreciates nearly 0.5% against the US Dollar in the daily chart, so far, buoyed...
The Australian Dollar (AUD) continued to strengthen against the US Dollar (USD) on Wednesday, posting gains for the third consecutive day. The AUD's strength was driven by the release of the Reserve B...
The AUD/USD currency pair is currently in a bullish consolidation phase, a brief pause in its uptrend, and is hovering around the 0.6600 level during the Asian session on Friday (December 5th). This l...
The Australian Dollar (AUD) rose and reached a three-week high against the US Dollar (USD) during Wednesday's Asian session. This rise occurred despite less-than-satisfactory Australian economic data....
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...