The Australian Dollar nudged higher to start the week with the US Dollar easing a touch as markets assess elevated Treasury yields and a Middle East conflict. Where to for AUD/USD.
We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.Wall Street IG Client Sentiment: Our data shows traders are now net-short Wall Street for the first time since Sep 21, 2023 when Wall Street traded near 34,068.90.The Australian Dollar steadies as risks swirl for marketsThe weakness in AUD/USD is mostly a result of the US Dollar regaining the ascendency with Treasury yields continuing to remain buoyant.
In a similar vein, the 2-year note, which is more sensitive to the Fed funds target rate, continues to trade above 5%. The 5.20% seen last month was the highest since 2006. However, recent movements in the spread between Australian and US government bonds highlight that it is the strengthening of the US Dollar rather than the interest rate differential that appears to have more influence over AUD/USD.
This Thursday will see Australian unemployment data and it is forecast to remain near multi-generational lows at around 3.7% for the September read.AUD/USD bounced off the low of 0.6286 to start the week and if the price fails to move below that level, aSimple Moving Average
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