Australian Dollar Advances As Risk Appetite Revives
19 Oktober 2021 - 6:42AM
RTTF2
The Australian dollar climbed against its major counterparts in
the Asian session on Tuesday, as a drop in oil prices soothed some
of the fears about inflation and tightening of monetary policy.
Oil prices declined after overnight data showed that U.S.
industrial production fell unexpectedly in September, reducing
expectations about the demand growth.
Investors continue to cheer solid earnings results and a fall in
treasury yields, which helped recede risks of a stagflationary
economy.
The minutes from the Reserve Bank of Australia's latest monetary
policy meeting showed that the board remained committed to maintain
highly supportive monetary conditions to achieve a return to full
employment and inflation consistent with the target.
The board reiterated that it will not increase the cash rate
until actual inflation is sustainably within the 2 to 3 percent
target range.
The aussie firmed to more than 5-month highs of 85.26 against
the yen and 1.5583 against the euro, from Monday's closing values
of 84.69 and 1.5658, respectively. The currency is likely to locate
resistance around 88.00 against the yen and 1.51 against the
euro.
The aussie touched near a 4-week high of 0.9216 against the
loonie and a 1-1/2-month high of 0.7476 against the greenback, up
from yesterday's closing quotes of 0.9171 and 0.7409, respectively.
If the aussie rises further, 0.94 and 0.78 are possibly seen as its
next resistance levels against the loonie and the greenback,
respectively.
The aussie rebounded to 1.0466 against the kiwi, from nearly a
2-week low of 1.0443 set at 11:10 pm ET. On the upside, 1.06 is
possibly seen as its next resistance level.
Looking ahead, Eurozone construction output for August is
scheduled for release in the European session.
U.S. building permits and housing starts for September are set
for release in the New York session.
AUD vs US Dollar (FX:AUDUSD)
Forex Chart
Von Mär 2024 bis Apr 2024
AUD vs US Dollar (FX:AUDUSD)
Forex Chart
Von Apr 2023 bis Apr 2024