AUD/USD drops to the fresh low of the day, during the early Tuesday. In doing so, the aussie pair ignores the upbeat prints of Australia’s November month Retail Sales figures while taking clues from the mild risk-off mood amid an easy session. As per the Preliminary readings, Australia’s Retail Sales jumped 7.0% MoM versus 1.4% [...]
Heading into the Christmas-holiday shortened week, the concerns over the corona virus contagion have intensified, especially after a new covid strain was found in the UK. Italy announced late Sunday that it had confirmed a COVID-19 case in the country, which had the new variant detected in England. UK PM Boris Johnson described the variant [...]
One of the most important barometers for global currencies is the Dollar Index (DXY), which measures the value of the US Dollar versus a basket of global currencies. It began at an arbitrary 100.000 in March of 1973. The basket of currencies essentially consists of nations that have significant trading relationship with the US and [...]
Fundamental view: AUD has rallied against greenback in the past week. Upbeat Australian employment data and a dovish US Federal Reserve triggered the bullish breakout. The American currency plunged on a risk-on mood and a dovish Fed, as speculative interest was optimistic over a Brexit deal and the US stimulus package. Both suffered delays and are still to [...]
