The Aussie dollar takes the top spot again this week, likely riding higher against the majors on continued positive risk sentiment. We also got positive updates from low tier economic events from Australia that may have contributed to the Aussies gains, in what was mostly a quiet week in the FX markets.
Australia Headlines and Economic data
No major news or catalysts from Australia on the session, but we did see a uniform move higher in AUD against the majors during the U.S. session. This was likely mainly driven by positive risk sentiment, likely driven by the overall themes of further covid stimulus and recovery expectations.
“National Australia Bank’s NAB.AX index of business confidence doubled to +10 points in January, while its measure of conditions fell to +7 from a very strong +16 in December.”
“However, officials do not know how many of the 1.6 million workers supported by the scheme will be jobless when it ends on March 28.”