4/6/2021 11:50:20 AM GMT | By Eren Sengezer
AUD/USD erased a large portion of Monday s gains.
RBA left is monetary policy settings unchanged as expected.
US Dollar Index rebounds as US stock index futures trade in the negative territory.
After touching its highest level in five days at 0.7661 on Monday, the AUD/USD pair struggled to preserve its bullish momentum and dropped to a daily low of 0.7606 during the European session on Tuesday. As of writing, the pair was down 0.38% on a daily basis at 0.7620.
USD s market valuation continues to drive AUD/USD movements
Following its April meeting, the Reserve Bank of Australia (RBA) announced that it left its official cash rate (OCR) unadjusted at a record low of 0.10% as expected and failed to trigger a market reaction.
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The RBA left its monetary policy unchanged as widely anticipated.
Broad dollar’s weakness helped the pair post a modest intraday advance.
AUD/USD gains bullish traction, still needs to move above 0.7700.
The AUD/USD pair finishes Tuesday with modest gains trading in the 0.7660, price zone. The Reserve Bank of Australia announced its latest monetary policy decision earlier in the day, but as widely anticipated, they maintained the official cash rate at a record low of 0.10%. Policymakers also maintained its target of 10 basis points for yield on a 3-year Australian government bond, alongside their bond-buying program. The statement was generally optimistic, as it reiterated that the economic recovery is well under way, although the broad clarified that they do not expect employment and inflation goals will be met until 2024 at the earliest.
3/3/2021 7:52:41 PM GMT
AUD/USD Current Price: 0.7787
Australian Q4 Gross Domestic Product came in at 3.1% QoQ, better than expected.
Wall Street’s poor performance and rising US Treasury yields weighed on the pair.
AUD/USD is neutral in the near-term, bulls can build once above 0.7840.
The AUD/USD pair trades around the 0.7800 level ahead of the Asian opening, little changed on a daily basis. During US trading hours, the pair fell to 0.7770 as the greenback got an intraday boost from rising US Treasury yields, while the aussie fell alongside equities, as Wall Street fell at the opening, later recovering and providing support to the pair.
Mar 2, 2021 18:12 GMTFXStreet News
AUD/USD clings to daily gains above 0.7800 on renewed USD weakness.
US Dollar Index drops below 91.00 as 10-year T-bond yield turns red.
Mixed macroeconomic data releases from US failed to trigger a market reaction.
The AUD/USD pair broke above 0.7800 during the European trading hours and stayed relatively quiet before starting to push higher in the American session. As of writing, the pair was trading at a fresh daily high of 0.7820, rising 0.66% on a daily basis.
DXY loses traction as T-bond yields edge lower
The renewed USD strength seems to be helping AUD/USD preserve its bullish momentum in the second half of the day. In the absence of significant macroeconomic data releases, US Treasury bond yields continue to impact the greenback’s market valuation. The US Dollar Index is currently losing 0.25% on the day at 90.82 and the benchmark 10-year US T-bond yield is down 1%.
2/18/2021 12:01:35 PM GMT | By Eren Sengezer
AUD/USD is pushing higher after closing lower for two straight days.
Unemployment Rate in Australia declined to 6.4% in January.
US Dollar Index retreats below 90.70 ahead of mid-tier data.
The AUD/USD pair closed the previous two days in the negative territory and reversed its course on Thursday. As of writing, the pair was up 0.41% on a daily basis at 0.7781.
AUD capitalizes on strong labour market report
Earlier in the day, the data published by the Australian Bureau of Statistics showed that the Unemployment Rate declined to 6.4% in January from 6.6% in December and came in better than the market expectation of 6.5%. Further details of the publication revealed that the Fulltime Employment in that period increased by 59,000, better than 35,700 registered in December. These upbeat figures helped the AUD gather strength during the Asian session.