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Australian Dollar Holds Steady as Optimism Wanes

The Australian dollar held its ground today despite waning optimism about the coronavirus vaccine. Domestic macroeconomic data released in Australia on Wednesday was not great but not terrible either.

Australian Dollar Soars Despite Interest Rate Cut from RBA

The Australian dollar was the strongest currency on the Forex market today even though the Reserve Bank of Australia expanded its stimulus more than was expected. Market analysts explained the currency’s stellar performance by the risk-positive market sentiment and the sell-off of the US dollar.

Australian Dollar Second Strongest Ahead of RBA Meeting

The Australian dollar was the second strongest currency on the Forex market today, losing only to the Canadian dollar. The Aussie rallied for the same reasons as the New Zealand dollar: the rebound of crude oil prices, good economic data in China, decent domestic macroeconomic reports.

Australian Dollar Rises on Decent Domestic Economic Reports

The Australian dollar was trading flat against major currencies today. While domestic macroeconomic data released in Australia on Friday was decent, worries and uncertainty made investors reluctant to buy riskier commodity-linked currencies, like the Aussie. Yet currently, the Australian currency has managed to regain upward momentum and is trading above the opening level versus majors.

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 Gains on Improving Sentiment, Changing Outlook for Interest Rate Cut

The Australian dollar was extremely strong on Monday, second only to the Great Britain pound. There were two likely reasons for that. The first one was the positive general market sentiment, which was favoring riskier assets. The second one was the changing outlook for the timing of an interest rate cut from the Reserve Bank of Australia.

Australian Dollar Weak on Interest Rate Cut Outlook

The Australian dollar was one of the weakest currencies on the Forex market during Wednesday’s trading. The Aussie fell even against its New Zealand counterpart, which itself was extremely soft, though by now the AUD/USD pair has almost erased its losses. Market analysts thought that the main reason for the currency’s weakness was the outlook for an interest rate cut in the near future.

Australian Dollar Firm Ahead of Employment Report

The Australian dollar was firm today amid the generally positive market sentiment. While today’s domestic macroeconomic data was good, it was of limited importance, and traders are more interested in tomorrow’s employment report. Meanwhile, markets wait for the FOMC monetary policy announcement that will happen later today.

Aussie Soft After Economy Enters First Recession in Almost 30 Years

The Australian dollar was soft today after data confirmed that Australia’s economy has entered a recession. The losses were limited, though, and the Aussie managed to remain flat against a range of peers. The currency had a muted reaction to yesterday’s monetary policy announcement from the Australian central bank.

Australian Dollar Outlook: Can RBA Stop Aussie’s Rally?

The Australian dollar was very strong lately, reaching the highest level in more than a year and a half against its US counterpart last week. But some traders are worried that the currency will be unable to extend its rally, especially if the nation’s central bank remains dovish. Let’s look at fundamentals that will be driving the Australian currency this week.

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