Daily digest market movers: Australian Dollar declines due to strength in US Dollar... dari Wulan Viana

14 Nov 2024, 14:37 · Views 166

The US Dollar's strength pushed the US Dollar Index (DXY) to new four-month highs, negatively impacting risk-related currencies.
The AUD fell significantly, dropping below the 0.6600 mark and its 200-day SMA at 0.6629, indicating a potential for further declines.
The Reserve Bank of Australia (RBA) maintained interest rates at 4.35%, with Governor Michele Bullock suggesting current levels are appropriate.
On the data front, Australia's Consumer Confidence and Business Confidence measures improved in November and October, respectively.
On Wednesday and Thursday, labor market data will be under scrutiny and might set the pace of the pair for the short term.

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