Wednesday, September 28, 2022
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TRENDING: Australian Dollar Down Against The USA Dollar, Surge In US Yield Explained

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Australian Dollar Down Against The USA Dollar

The Australian Dollar is one of the most sensitive currencies to risk. For higher profits, some of the top forex traders in Australia track the movement of the graph. The popularity of the Australian Dollar is a big factor in traders of all kinds.

USD vs AUD Falls

The Australian Dollar is seeing a dimming weekend. It recently saw a decline in its value relative to the US Dollar. This trend is expected to continue and it highlights the possibility that the board could fall in the days ahead.

The surge in Treasury yields has caused a fall in the AUD/USD. It has actually boosted investor confidence in the US Dollar. It is quite appealing as the Australian Dollar is expected to fall if the number of traders supporting the US government bonds falls further.

According to the latest trading figures, AUD/USD was just below the 50-day simple moving average, which is currently inline with the 61.8% Fibonacci level of retracement. The MACD oscillator isn’t too far from a bearish view. Bulls still have hope at 38.2% Fib, if the graph line ever rebounds.

A small decline can make the AUD move lower by 200 days Simple Moving Average.¬†Commodities don’t seem to be very appealing. Silver prices have fallen by more than 22% while Gold prices have dropped almost 0.5%.¬†According to the Purchasing Managers Index report by S&P Global, Australia’s manufacturing sector grew to 57.9 from 57.9 in April. The Service Sector grew to 56.6 in April from 55.6 in April. Iron Ore’s price was 153 per metric ton.

All of the effects are believed to be related to the Tangshan lockdown, China. This scenario is likely to have its links with the fluctuation. Other currencies also saw a decline in value and joined the AUD club. The Chinese Yuan fell against the US Dollar and the Japanese Yen. To reflect the increase of 0.5%, figures for USD/JPY have been published. Japan may see Jibun Bank PMI numbers cross wire today. OZ Minerals will likely publish a quarterly production report in the near future.



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