• AUD/USD consolidates  Thursday losses, trading over 0.7250.
  • US Dollar Index remains sub 93.00 on Friday.
  • US PPI and consumer confidence data are in focus.

AUD/USD moved slightly lower on Thursday in risk off trade. However, as the mood in the market picked up modestly on Friday, the pair rebounded trading +0.4%at 0.7260.

After the risk on rally at the start of the week, surging covid cases are turning investors cautious.

Today European stock markets cling to mild gains. The S&P 500 futures are up almost 1%,  risk sentiment could well drive the markets in the latter part of the day.

The US Dollar Index extends losses for a second session and trades sub 93.00 US October Producer Price Index (PPI) and the University of Michigan’s Consumer Sentiment Index are in focus. DXY trades down 0.17% on the day at 92.80.