{"id":101973,"date":"2020-07-15T10:57:43","date_gmt":"2020-07-15T14:57:43","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=101973"},"modified":"2020-07-15T10:57:43","modified_gmt":"2020-07-15T14:57:43","slug":"103624-aud-usd-aussie-dollar-climbs-through-0-70-to-monthly-top","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/103624-aud-usd-aussie-dollar-climbs-through-0-70-to-monthly-top\/","title":{"rendered":"AUD\/USD: Aussie Dollar Climbs Through $0.70 To Monthly Top"},"content":{"rendered":"<ul>\n<li><strong>Upbeat market mood has boosted demand for riskier Australian Dollar (AUD) whilst dampening demand for the safe haven US Dollar<\/strong><\/li>\n<li><strong>Vaccine news and upbeat US data has boosted market sentiment overshadowing weak Australian consumer confidence figures<\/strong><\/li>\n<li><strong>Attention turns to Australian employment data<\/strong><\/li>\n<li><strong>Australian Dollar US Dollar (AUD\/USD) exchange rate pushed through US$0.70<\/strong><\/li>\n<\/ul>\n<p>The Australian Dollar US Dollar exchange rate is extending gains for a second straight session on Wednesday. After settling +0.5% on Tuesday the Australian Dollar is trading an additional +0.6% higher today at US$0.7020.<\/p>\n<p>Risk appetite received a boost after US biotech firm Moderna reported encouraging results for its vaccine candidate. In a peer reviewed journal, Moderna reported that all 45 participants in its early stage human trials saw an antibody response described as a robust immune response. The vaccine candidate will now progress to Phase three trials later this month.<\/p>\n<p>A vaccine is the only way for global economic growth to rebound to pre-coronavirus levels. Without a vaccine there is a good chance that consumers will remain wary, preventing a complete rebound. For this reason, investors are particularly sensitive to vaccine news.<\/p>\n<p>Better than expected trade and industrial production data from the US has added to the upbeat mood. Industrial production jumped by 5.4% month on month in June, up from 1.4% increase in May. The data comes following the biggest jump in monthly inflation in 8 years.<\/p>\n<p>Data from the US shows that the economic recovery is on track which is boosting sentiment and overshadowing rising coronavirus infections.<\/p>\n<p>The positive mood in the market also helped investors shrug off a sharp decline in Australian consumer confidence. Sentiment tumbled -6.2% in July after previously rising by 6%. The survey was taken at the same time that Melbourne went back into lockdown, showing just how quickly sentiment can turn.<\/p>\n<p>Looking ahead, Australian Dollar investors will focus on Australian labour market data. Analysts are expecting unemployment to tick higher to 7.4%, up from 7.1%. 112,500 new jobs are expected to have been created in June as the labour market shows tentative signs of improving.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Upbeat market mood has boosted demand for riskier Australian Dollar (AUD) whilst dampening demand for the safe haven US Dollar Vaccine news and upbeat US data has boosted market sentiment overshadowing weak Australian consumer confidence figures Attention turns to Australian employment data Australian Dollar US Dollar (AUD\/USD) exchange rate pushed through US$0.70 The Australian Dollar [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":3625,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[1540,1541,1435,1525,2767,1397,1398,2695],"class_list":{"0":"post-101973","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd","9":"tag-aud","10":"tag-australian-dollar","11":"tag-consumer-confidence","12":"tag-industrial-production","13":"tag-moderna","14":"tag-us-dollar","15":"tag-usd","16":"tag-vaccine"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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