The AUD/USD pair remains steady above the immediate support of 0.6520 in Friday’s New York session after the release of the mixed United States (US) Personal Consumption Expenditure Inflation (PCE) report for June.
AUD/USD continues to consolidate above 0.6520 after mixed cues from the US PCE inflation report for June. Annual headline PCE decelerated expectedly, the core measure grew steadily. The next move in the Australian Dollar will be influenced by the Aussie Q2 CPI data. The AUD/USD pair remains steady above the immediate support of 0.6520 in Friday’s New York session after the release of the mixed United States Personal Consumption Expenditure Inflation report for June.
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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