The AUD/USD slipped to a ten-month low of 0.6331 in late Wednesday trading and is currently down around 45 pips, or -0.7%, for the day near 0.6350. Au
Upbeat US data is sending the Greenback higher, durable goods beat expectations.The AUD/USD slipped to a ten-month low of 0.6331 in late Wednesday trading and is currently down around 45 pips, or -0.7%, for the day near 0.6350.
Australian Consumer Price Index figures rose to 5.2% in August, in-line with market expectations and providing a minor boost for the Aussie in the early Friday session, but bullish momentum for the AUD/USD proved short-lived as US data beats sent the Greenback higher once more.US Durable Goods Orders climbed to 0.2%, handily beating theComing up on Thursday is Australian Retail Sales early in the session at 01:30 GMT, and the headline monthly figure is anticipated to print at 0.
US Gross Domestic Product figures will land later on at 12:30 GMT, which is broadly forecast to hold steady at 2.1% for the second quarter. The Greenback is seeing further support from climbing US Treasuries this week as broad-market jitters over an impending US government shutdown is sending borrowing costs higher.
Adding to bullish USD market momentum are hawkish comments from Federal Reserve board members, with the President of the Minneapolis Federal Reserve Neel Kashkari hitting wires with comments leaving room for more rate hikes in the future, as well as the possibility of rates remaining at their current levels should rate cuts get pushed even further out.
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