AUD/USD is extending its downward trend on today morning ahead of the persistent bullish mood around the US dollar, coupled with growing covid concerns in Australia, weighs negatively on Fed's tight and narrow expectations. As of Tuesday, New South Wales has become new covid epicenter in the country, with about 350 new cases registered. The [...]
The AUD/USD is taking a positive moment today as a response of easing in its COVID-19 lockdown restrictions and setting a precedent among other countries. Meanwhile, Australian stocks hit a record high on Tuesday, with mining and energy stocks rising on solid commodity prices, with OZ Minerals topping the gold release forecast on the benchmark. [...]
Amid growing concerns about the Delta Cove variance in the Asia-Pack region, Australia and Indonesia have been badly affected and despite the Aussie fall, the Aussie pair have been suspended since yesterday and downbeat Aussie retail sales report. Preliminary estimates of Australian retail sales for June fell to -0.5% and -0.1% for previous readings, -1.8% [...]
Aussie is in the middle today following the vague signals of the Aussie employment report for June released early Thursday morning. Low market sentiment and US dollar recovery moves can be traced to this. Australia's unemployment rate reached its lowest level in more than a decade in June, another sign of a significant economic recovery [...]
