AUD/USD stalls around 0.7000, on risk-off mood and buoyant US Dollar AUDUSD Majors Currencies
observance of Martin Luther King Jr. day. A risk-off impulse bolstered the US Dollar , recovering some ground against most G8 currencies. Therefore, the AUD/USD is trading at 0.6952.cash market is closed, the S&P 500 and Nasdaq Futures portray a dampened market sentiment. Last week’s US economic data, mainly inflation edging lower and consumer sentiment improved, as reported by the University of Michigan poll, augmented speculations that the US Federal Reserve would tighten policy by 25 bps.
, which measures the greenback’s value against a basket of six currencies, edges up by almost 0.70%, at 128.730, despite the absence of US traders, a headwind for the AUD/USD.featured the Melbourne Institute Monthly Inflation gauge, which showed that inflation decelerated by 0.2%. The latest data showed signs that Australia’s inflation figures remained high, both in terms of quarterly and monthly readings. The annual inflation rate in Australia climbed to an over three-decade high of 7.
Hence, the AUD/USD key resistance levels would be 0.7000, the new 7-month high hit on January’s 16 sessions at 0.7019, and the August 11 daily high of 0.7136.
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