- A risk-on impulse favored risk-perceived currencies like the Australian Dollar.
- The US housing market continues to deteriorate, as shown by Existing Home Sales plunging.
- Fed officials favor a deceleration of rate hikes, though the higher-for-longer stance remains unchanged.
The AUD/USD edged higher in the mid-North American session on Friday, following a soft employment report from Australia that spurred a fall beneath 0.6900. Friday, the story is different, with the AUD/USD recovering some ground while the US Dollar (USD) is pairing its earlier gains. At the time of writing, the AUD/USD is trading at 0.69600, above its opening price by 0.74%.
AUD/USD climbed, underpinned by investors upbeat mood, soft USD
Wall Street continues to portray investors’ positive mood. Data from the United States (US) flashes deterioration, as Existing Home Sales for December plunged 1.5%, its lowest level since November 2010, according to the National Association of Realtors.
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