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AUD/USD Back on the Offensive as Covid Restrictions Ease

From dailyfx.com

The Australian Dollar is seemingly back on the offensive, but it remains much lower against the US Dollar since February. Still, gains in the Aussie have meant that weakness since earlier in 2021 has slowed. This is despite another disappointing Australian labor market report. Following an unexpected -138k loss in jobs during September, Australian employment levels are back below pre-pandemic points. Might the Australian Dollar be stabilizing? It is possible. To explain this, have a look at the chart below. The commodity-linked currency was unable to capitalize on rosy market sentiment earlier this year as metals - ... (full story)

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  • Category: Fundamental Analysis