Page 25 - Audusd News Today

The AUDUSD pair breaks above the key trendline. What’s next?

The AUD/USD is maintaining a strong position at four-month highs, although it has not been able to hold above 0.6700 firmly.

According to S&P Global's Preliminary Judo Bank Australia Purchasing Managers' Index (PMI), the December flash Composite PMI climbed to a two-month high of 47.4 compared to November's thirteen-month low of 46.2.

The Australian Dollar (AUD) continues its winning streak for the third consecutive day on Friday.

The Australian Dollar (AUD) extends its gains on the second consecutive day on Thursday and delivers its strongest performance in four months after moderate employment data release from Australia.

Australian Treasury presented the Mid-year Economic and Fiscal Outlook (MYEFO) on Wednesday, with the key highlights noted below.

The Australian Dollar (AUD) continues to lose ground on Wednesday, particularly after the release of moderate Consumer Price Index (CPI) data from the United States (US).

Han Wenxiu, deputy head of the Chinese Communist Party’s office for financial and economic affairs, said on Wednesday that “China should set its 2024 fiscal deficit and special local government bonds at appropriate levels and optimize the structure of fiscal expenditure.” “China should also keep consumer prices at a moderate and appropriate level, neither too low nor too high,” added Han.

The Australian Dollar is looking weak after rejection at 0.6615.

The AUD/USD is catching a firm risk-bid as markets surge higher following a dovish pivot to the Federal Reserve’s (Fed) policy stance; the Fed now sees at least three rate cuts in 2024, for a combined 75 basis points in rate cuts next year.