The Australian Dollar (USD) is gaining altitude versus its US counterpart for a second straight session. The pair trades +0.2% higher at US$0.7216, towards the high of the day.
The risk sensitive Australian Dollar is rising amid an increasingly risk on trading session following upbeat US durable goods orders. Orders jumped 11.2% in July, well above the 4.3% forecast. This was an increase from June’s 7.7% and marks the third consecutive month of rising orders.
US Federal Reserve Chair Jerome Powell is due to speak tomorrow. This is expected to be a key speech and investors will be looking for clues over where monetary policy is heading.