- AUD/USD struggles around 0.73.
- Australian Consumer confidence declined by more than forecast in November.
- US Dollar Index trades at 6-day highs past 93.00.
AUD/USD rallied today’s high of 0.7320 on Wednesday, before reversing prior to the US open.The pair trades -0.12% at 0.7275.
DXY advances beyond 93.00
Westpac Consumer Confidence data for Australia revealed a 2.5% drop in November from 11.9% in October. The print missed analysts forecasts of 3.8%. The risk sensitive AUD managed to shrug off the disappointing data, instead carried higher by the upbeat mood in the market.
USD strength in the latter part of the day sent AUD/USD lower.The US Dollar Index closed flat at 92.80 on Tuesday. However, it is now trading at an almost weekly high.at 93.10, up +0.4%.
There is no US data today and volumes are expected to be thin owing to Veterans Day holiday.
Looking ahead Australian Consumer Inflation Expectations data for November will be in focus.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.