(VIANEWS) – The AUD/USD pair consolidates its recovery from Thursday’s Asian session’s two-year low of 0.6500. The Aussie pair has seen its largest daily rise in 3 weeks, despite the cautious outlook ahead to key data from Australia or the US.
FXStreet confirmed Wednesday’s rally in risk-barometer pairs, following a refresh of the annual low. This was due to the US dollar tracking a severe slump in Treasury yields, which led it to fall from its two-decade high.
AUD/USD (AUDUSD) is currently on bearish momentum. At 00:06 EST on Saturday, 1 October, AUD/USD (AUDUSD) is at 0.6402, 1.5754% down since the last session’s close.
AUD/USD consolidates the previous day’s rebound from the two-year low around 0.6500 during Thursday’s Asian session. In doing so, the Aussie pair pares the biggest daily jump in three weeks amid the cautious mood ahead of the key data from Australia and the US.
FXStreet has confirmed that the risk-barometer pair rallied during the late Wednesday, after refreshing the yearly low, as the US dollar tracked a heavy slump in the Treasury yields to retreat from the two-decade top.
Is AUD/USD currency pair a good investment?
The AUD/USD currency pair is an attractive investment option for investors looking to participate in a carry trade. This pair is characterized by volatile price movements and is affected by a variety of factors. A host of events and elements influence the direction of the currency pair, including Chinese economic data, which directly influences the Australian economy.
Interest rates and trade relations are major factors that affect the AUD/USD. The interest rate differential between the U.S. and Australia makes the Australian dollar more attractive. When interest rates rise, the Australian dollar tends to rise, and when interest rates fall, it becomes less attractive.
Currency pairs tend to correlate with each other, so you need to learn more about these. The AUD/USD is correlated with a number of other major currencies. Its positive correlation with AUD/CAD, CAD/USD, and NZD/USD is particularly high. This may be because of their similar economies, which rely on resources.
The AUD/USD currency pair is one of the more popular currency pairs on the forex market. It is the fourth most traded pair in the world and has low spreads. It has high liquidity and is highly volatile during Asian trading sessions, which is encouraging to traders.
Another good reason to invest in the AUD/USD currency pair is the strong relationship between Australia and gold. Australia is the third largest producer of gold in the world, and it exports about $5 billion worth of gold each year. The AUD/USD often goes up and down when gold prices rise and falls.
AUD/USD (AUDUSD) Range
Regarding AUD/USD’s daily highs and lows, it’s 1.523% down from its trailing 24 hours low of $0.65 and 1.825% down from its trailing 24 hours high of $0.65.
AUD/USD’s yearly highs and lows, it’s 0.566% up from its 52-week low and 16.434% down from its 52-week high.
AUD/USD’s last week, last month’s, and last quarter’s current intraday variation average was a negative 0.67%, a negative 0.24%, and a positive 0.68%, respectively.
AUD/USD’s highest amplitude of average volatility was 1.07% (last week), 0.77% (last month), and 0.68% (last quarter), respectively.
Previous days news about AUD/USD (AUDUSD)
- Aud/usd jostles with 0.6500 hurdle on mixed China PMI data, US inflation eyed. According to FXStreet on Friday, 30 September, “Other than the mixed data at home, fears of global recession and recently softer Aussie inflation data also challenge the AUD/USD buyers. “, “Successful trading above 0.6500 could help AUD/USD to pare weekly loss as it will confirm the three-week-old falling wedge bullish chart pattern. “
- Aud/usd eases from 12-day-old resistance to 0.6500 ahead of Australia inflation, US GDP. According to FXStreet on Thursday, 29 September, “Although 78.6% Fibonacci Expansion (FE) of the AUD/USD pair’s April-August moves, around 0.6355 triggered the pair’s bounce, a clear upside break of the two-week-old resistance line, near 0.6530 at the latest, becomes necessary to defend the recovery.”, “While the risk-on mood favored the AUD/USD buyers the previous day, the prevailing energy crisis in Europe, doubts over the BOE’s capacity to regain traders’ confidence and current pessimism in China weigh on the pair.”
- Aud/usd holds above 0.6500 amid softer usd, eyes US PCE for fresh impetus. According to FXStreet on Friday, 30 September, “The AUD/USD pair attracts some dip-buying around the 0.6475 area on Friday and climbs to a fresh daily high during the early European session. “, “The data, along with the US bond yields and the broader risk sentiment, will influence the USD and provide a fresh impetus to the AUD/USD pair later during the early North American session.”
- Aud/usd drops below 0.6500 as DXY defends 112.00, RBA policy hogs limelight. According to FXStreet on Friday, 30 September, “The AUD/USD pair has slipped below the psychological support of 0.6500 after failing to test Thursday’s high at 0.6525. “
- Aud/usd pares intraday losses amid modest USD downtick, keeps the red below 0.6500. According to FXStreet on Thursday, 29 September, “The AUD/USD pair recovers a few pips from the daily low and climbs to the 0.6480-0.6485region during the early North American session, still down nearly 0.60% for the day.”, “The US dollar regains positive traction on Thursday and prompts fresh selling around the AUD/USD pair, forcing spot prices to reverse a part of the overnight recovery move from its lowest level since April 2020. “
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