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AUD/USD traded slightly lower below 0.7200 after touching a near 18-month high of 0.7228 in the Asian session. The US Dollar Index fell to a more than two-year low of 92.55 after a sharp drop in US second-quarter GDP and lower Treasury yields.
Traders awaited US personal income and spending data.
The dollar's slide to multi-year lows lifts dollar-denominated commodity prices and changes the cost of imports for buyers in currencies tied to the Aussie. Short-term moves of this size are mainly routine trading noise for feed buyers.
octaafrica.netJul 31, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
