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The AUD/USD pair is gaining for the second day in a row, hitting a one-and-a-half-week excessive in early European buying and selling. It’s now above the mid-0.6700s, up about 0.15% at the moment.
The US Greenback is consolidating close to its lowest level since July 2023, with expectations of a 50 foundation level charge minimize by the Federal Reserve. In the meantime, the Reserve Financial institution of Australia’s hawkish stance and constructive fairness markets are boosting the Australian Greenback.
The AUD/USD has risen almost 150 pips from the 200-day Easy Transferring Common help round 0.6620. Market circumstances favor an upward pattern, however considerations over China’s financial slowdown may influence the Australian Greenback.
Current information exhibits financial weak point in China, elevating doubts about assembly the 5% GDP progress goal for 2024. This may very well be a headwind for the Australian Greenback. Merchants might keep cautious till there’s extra readability on the Fed’s charge cuts.

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