FX News

AUD/USD Transfer

The Australian Dollar (AUD) extended moves higher over the week against the US Dollar (USD) reaching 0.6700 levels not seen since early January clearing the massive resistance level at 0.6640. US CPI gave the Aussie a boost yesterday when figures confirming the lowest inflation level of 3.4% since mid-2021. Buyers of AUD came back sinking the greenback as equities rose. Nothing really has changed for Fed monetary policy after markets expected inflation to come in much higher. US Retail Sales however was a bad miss coming in at 0.0% for April vs 0.4% predicted with spending clearly down as retailors take on water. Overall, on the chart we think further rises are in store with a retest of the yearly open around 0.6800

The current interbank midrate is: AUDUSD 0.6673

The interbank range this week has been: AUDUSD 0.6578- 0.6713




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