Most of the currency pairs are in a consolidation, waiting for confirmation that the US and Europe are seeing the infections peak already. Oil is waiting as well: at 15:00 MT OPEC+ holds a video conference about the global production cut; if a 10mln bpd cut is agreed, oil will fly!
Tag - aud - australian dollar
Middle of the week, no big news, USD slightly up, GBP prone to weakness as the British PM still in ICU
AUD looks stronger, RBA keeps the rate steady. How positive is the picture?
The virus situation keeps improving slowly but steadily; nevertheless, investors are still concerned with the larger scope of economic consequences: USD slides down, JPY weak, gold rises.
RBA Rate Statement is released on Tuesday at 07:30 MT time.
The week starts with weaker JPY and GBP, USD stays strong, gold rises to $1,620, and oil hopes for OPEC+ supply cut resolution.
The country has come through the worst and is recovering now.
A more relaxed and risk-on Forex market, daily update with FBS analyst Gaspar Markosyan
After hitting a multiyear low just above 0.5500 on March 19, AUD/USD has formed a higher low in the 0.5720 area.
US Democrats and Republicans failed to agree about the $1-trillion stimulus package. Will this hurt the USD?
Main currency pairs and assets got into consolation or correction this Friday.
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