Australian Dollar consolidates following Westpac Consumer Confidence data
The post Australian Dollar consolidates following Westpac Consumer Confidence data appeared on BitcoinEthereumNews.com. The Australian Dollar holds ground ahead of the second meeting between US-China advisors on Tuesday. Australia’s Westpac Consumer Confidence increased 0.5% MoM in June, down from May’s 2.2% rise. US Consumer Price Index is expected to climb by 2.5% YoY in May, above April’s 2.3% rise. The Australian Dollar (AUD) advances against the US Dollar (USD) on Tuesday, extending its gains for the second successive day. The AUD/USD pair receives support from hopes for a cooldown in the United States’ (US) latest broad tariff tensions with China. Any economic update from China could impact AUD as China and Australia are close trade partners. US-China advisers are expected to meet again on a second day on Tuesday at 10.00 a.m. in London. Trade talks will continue as the world’s two largest economies look to ease tensions over shipments of technology and rare earth elements, per Bloomberg. Australia’s Westpac Consumer Confidence rose 0.5% month-over-month in June, sharply falling from the 2.2% gain in May. The ongoing uncertainty over global trade weighed on sentiment. However, it was the fourth monthly increase this year, driven by the Reserve Bank of Australia’s (RBA) May rate cut and signs of easing inflation. Australian Dollar remains steady as US Dollar moves little amid economic uncertainty The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is remaining steady at around 99.00 at the time of writing. US Consumer Price Index (CPI) inflation is slated for Wednesday, with expectations of a rise of 2.5% YoY in May. The US Bureau of Labor Statistics (BLS) reported that US Nonfarm Payrolls (NFP) rose by 139,000 in May compared to the 147,000 increase (revised from 177,000) in April. This reading came in above the market consensus of 130,000. Moreover, the Unemployment Rate held steady…
The post Australian Dollar consolidates following Westpac Consumer Confidence data appeared on BitcoinEthereumNews.com.
The Australian Dollar holds ground ahead of the second meeting between US-China advisors on Tuesday. Australia’s Westpac Consumer Confidence increased 0.5% MoM in June, down from May’s 2.2% rise. US Consumer Price Index is expected to climb by 2.5% YoY in May, above April’s 2.3% rise. The Australian Dollar (AUD) advances against the US Dollar (USD) on Tuesday, extending its gains for the second successive day. The AUD/USD pair receives support from hopes for a cooldown in the United States’ (US) latest broad tariff tensions with China. Any economic update from China could impact AUD as China and Australia are close trade partners. US-China advisers are expected to meet again on a second day on Tuesday at 10.00 a.m. in London. Trade talks will continue as the world’s two largest economies look to ease tensions over shipments of technology and rare earth elements, per Bloomberg. Australia’s Westpac Consumer Confidence rose 0.5% month-over-month in June, sharply falling from the 2.2% gain in May. The ongoing uncertainty over global trade weighed on sentiment. However, it was the fourth monthly increase this year, driven by the Reserve Bank of Australia’s (RBA) May rate cut and signs of easing inflation. Australian Dollar remains steady as US Dollar moves little amid economic uncertainty The US Dollar Index (DXY), which measures the value of the US Dollar against six major currencies, is remaining steady at around 99.00 at the time of writing. US Consumer Price Index (CPI) inflation is slated for Wednesday, with expectations of a rise of 2.5% YoY in May. The US Bureau of Labor Statistics (BLS) reported that US Nonfarm Payrolls (NFP) rose by 139,000 in May compared to the 147,000 increase (revised from 177,000) in April. This reading came in above the market consensus of 130,000. Moreover, the Unemployment Rate held steady…
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