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On Thursday, the Australian dollar sank in Asia, with trade data weighing moderately along with China Caixin PMI figures. Additionally, the market looked ahead to end of the week nonfarm payroll data following a Fed review on rates, which might confirm a highly anticipated June lift.
Measures the greenback’s value against a basket of currencies, the US dollar index lost 0.04%, trading at 99.22.
The currency pair AUD/USD showed 0.7409, slumping 0.19%. As for USD/JPY, the pair got to 112.88, rising 0.12%.
As China states, April’s Caixin services PMI sagged to 51.6. In March, Australia’s trade balance was A$3.107 billion, and it’s less than the A$3.4 billion surplus observed.
Overnight, the Fed left its benchmark rate intact, keeping within 0.75-1%.
As for jobs and inflation, the Fed told that the labor market kept strengthening as job gains turned to be solid enough in recent months while inflation kept running below 2%.
The US major bank repeated its view that monetary policy will still be accommodative to underpin both an uptick in labor market conditions as well as a sustained return to 2% inflation.
On Wednesday, the evergreen buck declined because the Japanese yen kept to a two-month minimum due to the fact that market participants had the latest trade reports digested…
On Tuesday, the evergreen buck added versus its counterparts because market participants weighed the latest worsening in the tit-for-tat tariff conflict between China and America, while a weaker common currency also raised market sentiment…
On Monday, the evergreen buck declined versus its counterparts on worries of an escalation in the US-China trade conflict, while a stronger UK currency and euro also put pressure on market sentiment…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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