8 minut temu
The AUD/USD pair spiked to near 0.6850 during the European session. Australian assets rallied as the US Dollar Index (DXY) failed to find support following a significant cooling off in the US June inflation report.
S&P 500 futures extended gains in London, indicating an upbeat market mood. The USD Index extended the sell-off to near 100.30 as a weak Consumer Price Index (CPI) report showed the Federal Reserve (Fed) will only raise interest rates once by year-end.
Consumer inflation expectations for the next year in regional Australia remained steady at 5.2% while investors expected a decline to 5.1%. This will prevent the Reserve Bank of Australia (RBA) from raising interest rates further.
AUD/USD had a square recovery after breaking out of a four-hour descending Triangle chart pattern. The Aussie asset is approaching horizontal resistance drawn from the June 16 high at 0.6900.
The AUD/USD pair spiked to near 0.6850 during the European session. Australian assets rallied as the US Dollar Index (DXY) failed to find support following a significant cooling off in the US June inflation report.
S&P 500 futures extended gains in London, indicating an upbeat market mood. The USD Index extended the sell-off to near 100.30 as a weak Consumer Price Index (CPI) report showed the Federal Reserve (Fed) will only raise interest rates once by year-end.
Consumer inflation expectations for the next year in regional Australia remained steady at 5.2% while investors expected a decline to 5.1%. This will prevent the Reserve Bank of Australia (RBA) from raising interest rates further.
AUD/USD had a square recovery after breaking out of a four-hour descending Triangle chart pattern. The Aussie asset is approaching horizontal resistance drawn from the June 16 high at 0.6900.
