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Australian Dollar Recovers After Starting Trading With Losses

The Australian dollar started Friday’s trading with losses but has recovered by the time of writing. Analysts considered the market sentiment to be positive for riskier currencies, especially after some major US stock indices reached new record highs on Thursday. Australian macroeconomic data released during Friday’s trading session was mixed but no report was outright disastrous.

Australian Dollar Strong Despite Dovish Speech from RBA Chief

The Australian dollar rose against all other most-traded currencies today with the exception of the very strong New Zealand dollar. Australian macroeconomic data released on Wednesday was supportive of the Aussie but the speech of the central bank’s head was dovish, limiting the upside momentum for the currency. As of the time of writing, the Aussie has lost its gains versus the US dollar but rebounded against the New Zealand dollar.

Australian Dollar Flat Despite Better-than-Expected GDP

The Australian dollar was trading flat today even though Australia’s gross domestic product rose more than was expected and the central bank’s chief delivered a rather optimistic speech.

Aussie Falls vs. Rivals After Employment Report, Lowe’s Speech

The Australian dollar was weak today, falling against all most-traded rivals, even commodity currencies. Market analysts listed the following reasons for the decline: risk aversion on markets due to concerns that US politicians may fail to agree on a coronavirus relief package ahead of the presidential election, unfavorable Australian employment data, and comments from the Australian central bank’s chief that boosted bets on additional monetary easing.

Australian Dollar Retreats After Economy Contracts, Ending Almost 30-Year Expansion

The Australian dollar was rising at the start of today’s trading session, reaching multi-month highs, but has retreated after the release of Australian gross domestic product for the first quarter of this year. The report revealed that the Australian economy contracted, ending its record almost 30-year period of growth.

Australian Dollar Trades Lower After RBA Minutes, Drop of Crude Oil Below $0

The Australian dollar fell against almost all of the most-traded currencies today with the exception of the New Zealand dollar. The main reasons for the decline were the negative market sentiment and the dovish outlook for the monetary policy of Australia’s central bank.

Aussie Dragged Down by Fundamentals, Attempts to Recover

The Australian dollar fell today, dragged down by a range of fundamentals, including risk aversion and prospects for additional monetary easing. Macroeconomic data in China, Australia’s biggest trading partner, was mixed, giving no support to the Aussie. But the Australian currency was attempting to recover, and it even managed to gain on some of its rivals, including the US dollar.

Aussie Gains on Lowe’s Comments, Stabilizing Market Sentiment

The Australian dollar gained against its most-traded rivals today after the central bank’s chief questioned the efficiency of further monetary policy easing. The currency also got support from the stabilizing market sentiment.

Aussie Mixed After Lowe Talks About Interest Rate Cuts

The Australian dollar was mixed today, falling against some rivals and rising versus others. The Aussie remained vulnerable due to prospects for additional interest rate cuts from the Reserve Bank of Australia.

Aussie Tanks, Driven Down by Prospects for Interest Rate Cut

The Australian dollar sank today after the central bank signaled that it may cut interest rates at its next monetary policy meeting. While market participants were already expecting a rate cut in the near future, the confirmation of the dovish outlook still hurt the currency.

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