- AUD/USD doesn’t make a meaningful recovery Friday.
- US Dollar Index (DXY) pushed through 94.50 pre-US open
- US Dollar supported by safe haven flows in risk off trading
The AUD/USD traded in the red until Friday, where it reversed and hit a daily peak of 0.7086 before selling off on broad-based USD strength. AUD/USD trades -0.2% on the day at 0.7030.
USD rises on safe-haven flows
On Thursday Wall Street staged a firm rebound late in the session, preventing the US Dollar from outperforming its rivals.
Risk off as reflected by the steep selloff European equities, is boosting the US Dollar Index (DXY) on Friday. S&P 500 futures trade -0.8% in confirmation of the sour mood. DXY is gaining 0.26% at 94.58.
Looking ahead, Durable Goods Orders for August are the only item on the US economic calendar. Unless the print is far from the 1.5% expected risk sentiment is expected to be the key driver for AUD/USD
New York Federal Reserve President John Williams is due to speak at 1910 GMT as well.