On Wednesday afternoon, the AUD/USD pair is growing a little bit, thus neutralizing yesterday’s sales.
The Australian Dollar is strengthening a bit against the US Dollar in the middle of the week. The current quote for the pair is 0.7396. In general, the instrument is trading just below the middle of the mid-term trading channel.
According to the statistics published today, the Australian consumer confidence index from Westpac reduced by 1% in June against 8.5% increase the month before. Judging by the report components, the current decline mostly includes the correction. The Index rally in May was triggered by the RBA’s decisions relating its monetary policy and right now, the market is cooling down. One can see that the consumer confidence index hasn’t worsened that much. So far, the indicator includes too many emotions, later they will go away and the overall picture will get more informative.
Due to this particular reason, I mean the emotional factor, the Australian Dollar doesn’t respond to this report, although usually the Index decline leads to sales of the Aussie.
There might be fluctuations in the AUD/USD pair until the end of today’s trading session because of the meeting of the USA Federal Reserve System, which is set to be over today. Everything the regulator is going to say will be already included in the prices of currencies.
RoboForex Analytical Department
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