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Early week comments from the RBA boss gave the Aussie a positive start, and the bulls didn’t seem to look back as expectations of global central bank easing helped support risk-on sentiment.

Overlay of AUD Pairs: 1-Hour Forex Chart
Overlay of AUD Pairs: 1-Hour Forex Chart

Australian Headlines and Economic data

Monday:

Tuesday:

  • Early Asia session weakness in Aussie pairs may have stemmed from a rise in global risk aversion sentiment as Middle East tensions continued to rise between the U.S. and Iran.
  • The Australian dollar broadly swung to the upside during the afternoon U.S. session, most likely sparked by comments from Fed officials (Bullard calls for ‘insurance’ cut, Fed stronger case for accommodation) strengthening speculation of a rate cut very soon, even if it’s not likely the 50 bps cut investors were looking for. Global risk sentiment turned toward the positive which help higher-yielding currencies like the Aussie.

Friday: