The renewed and quite strong selling pressure on the US Dollar (USD) sponsored a sharp U-turn in AUD/USD on Wednesday, causing it to regain the area above the critical 200-day SMA (0.6556).
AUD/USD rebounded markedly on Dollar weakness. The Federal Reserve kept its rates unchanged, as anticipated. The Australian jobs report takes centre stage. The renewed and quite strong selling pressure on the US Dollar sponsored a sharp U-turn in AUD/USD on Wednesday, causing it to regain the area above the critical 200-day SMA .
Consequently, the RBA statement took on a more cautious tone, highlighting that wage growth appears to have peaked and that household consumption remains subdued due to elevated inflation and increasing interest rates. It's worth noting that the RBA remains one of the last G10 central banks to contemplate interest rate adjustments.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD Forecast: Next on the downside comes the 2024 lowThe Australian dollar resumed its downward path after a sluggish start to the week, retreating to the area of multi-day lows in the sub-0.6500 region on Wednesday.
Read more »
AUD/USD Forecast: Immediate target comes at 0.6670The renewed, albeit slight, selling pressure around the US Dollar (USD) encouraged AUD/USD to set aside the last couple of negative sessions and reclaim the area beyond the key 0.6600 barrier on Wednesday.
Read more »
AUD/USD Forecast: Sellers remain in control of the sentimentAUD/USD added to Wednesday’s decline and breached the key support at 0.6500 on the back of the firmer note in the US Dollar (DXY) on Thursday.
Read more »
AUD/USD Forecast: Further weakness could revisit the 2024 lowThe Aussie dollar managed to reverse the pessimistic start of the week and motivated AUD/USD to chart modest gains following an earlier drop to the sub-0.6500 region on turnaround Tuesday.
Read more »
AUD/USD Forecast: Downside pressure mitigated above 0.6560The Australian dollar halted its upward trajectory, coming under selling pressure after retesting the 0.6570 zone against the US Dollar (USD) on Wednesday.
Read more »
AUD/USD Forecast: Some consolidation likely near termThe upward momentum of the Australian dollar paused as it faced selling pressure upon approaching the key 0.6600 hurdle vs.
Read more »