The AUD/USD pair trades downside amid the release of both favorable and unfavorable Australian macroeconomic data. On Wednesday the country reported that Gross Domestic Product was up 1.8% QoQ in the first quarter of the year, much better than the 1.5% expected. Whereas Australia’s trade surplus has widened in April, increasing from $5.8bn to $8.0bn. [...]
The dovish stance expectation of the Fed has created selling pressure towards the greenback which is favorable for Aussie traders. The US central banks’ policymakers continue to dismiss inflation concerns, suggesting that the Fed could maintain lower rates for longer but investors are wary that a strong pandemic recovery could force the Fed's hand. Vice [...]
Aussie seems to struggle against the dollar during early Thursday. Recovery in the US dollar and the coronavirus (COVID-19)-led lockdown in Victoria weighs down the Aussie pair. The US dollar index (DXY) extends its recovery moves from early January lows, up 0.13% intraday, while following the firmer Treasury yields. The recent increase in the covid [...]
Aussie seems to struggle against the greenback after the release of downbeat data from China. Chinese Retail Sales and Industrial Production data data arrived as follows: Chinese Surveyed Jobless Rate Apr: 5.1% (exp 5.4%; prev 5.3%). Chinese Fixed Assets Ex-Rural YTD (YoY) Apr: 19.9% (exp 30.3%; prev 25.6%) - Property Investment YTD (YoY) Apr: 21.6% [...]
