AUD/USD Steadies as RBA's Hawkish Rhetoric Meets DXY Weakness, But Geopolitical Risks Cap Upside
The Australian dollar held higher against the US dollar on Friday, as a hawkish Reserve Bank of Australia stance and a weaker US dollar supported the Australian currency, though ongoing geopolitical tensions limited further gains for the pair. The US Dollar Index, a measure of the greenback's strength against the basket of major currencies, nudged lower 0.05% to trade at 100.88 on Friday. In Friday's G10 trading, the AUD showed mixed performance among other currencies. The next high-impact release for the Aussie will be the Westpac Consumer Confidence Change for July and the NAB Business Confidence for June, due on July 14. For the USD, the major events will be the inflation data for June and testimony of Federal Reserve Chair Kevin Warsh, also due on July 14. The AUD/USD pair was trading at 0.69482, with 0.10% gain during Friday's American session at the time of writing.
The Australian dollar held higher against the US dollar on Friday, as a hawkish Reserve Bank of Australia stance and a weaker US dollar supported the Australian currency, though ongoing geopolitical tensions limited further gains for the pair.
The US Dollar Index, a measure of the greenback's strength against the basket of major currencies, nudged lower 0.05% to trade at 100.88 on Friday.
In Friday's G10 trading, the AUD showed mixed performance among other currencies.
The next high-impact release for the Aussie will be the Westpac Consumer Confidence Change for July and the NAB Business Confidence for June, due on July 14.
For the USD, the major events will be the inflation data for June and testimony of Federal Reserve Chair Kevin Warsh, also due on July 14.
The AUD/USD pair was trading at 0.69482, with 0.10% gain during Friday's American session at the time of writing.