AUD/USD lacks direction.
US Dollar Index holds steady at 93.00 ahead of the US open.
UoM Consumer Sentiment Index in focus
The AUD/USD hit a daily high of 0.7334 in the Asian session before reversing in a quiet session. AUD/USD trades flat at 0.7310.
Amid a lack of Australian data and drivers, the Aussie Dollar looked to the positively correlated NZD/USD which helped to boost AUD/USD on Friday. New Zealand’s finance minister, Grant Robertson, said that the economic recovery is expected to be stronger than initially forecast meaning that the Reserve Bank of New Zealand should be able to keep the policy rate unchanged in early 2021.
US Dollar Index (DXY) is calm sub 93.00 following Thursday’s decline. It is not driving movement in AUD/USD.
University of Michigan Consumer Sentiment Index data for September will be in focus. It is expected to tick marginally higher.
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