The AUD/USD pair consolidates below the crucial resistance of 0.6800 in Monday’s American session.
AUD/USD consolidates below 0.6800 with Fed Powell’s speech in focus. Firm speculation for Fed rate cuts in September has resulted in cheerful market mood. Investors await the US Retail Sales and Aussie Employment for June. The Aussie asset struggles for a direction as investors await Fed eral Reserve Chair Jerome Powell’s speech, which is scheduled at 16:30 GMT.
Market sentiment – whether investors are taking on more risky assets or seeking safe-havens – is also a factor, with risk-on positive for AUD. How do the decisions of the Reserve Bank of Australia impact the Australian Dollar? The Reserve Bank of Australia influences the Australian Dollar by setting the level of interest rates that Australian banks can lend to each other. This influences the level of interest rates in the economy as a whole.
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