Australian Dollar Gains amid Confused Market Sentiment

Commodity currencies were mixed today as disappointing earnings of US companies did little to help in buoying the investors’ sentiment, but the rally of crude oil was lending support. The Australian dollar was the strongest among most-liquid commodity currencies, gaining on its major rivals.
Quarterly earnings of US companies were mixed. Among losers were Alphabet, Microsoft, Visa and Starbucks. This soured the mood of investors. At the same time, oil prices rallied, encouraging traders to buy currencies linked to raw materials.
AUD/USD gained from 0.7736 to 0.7744 as of 9:00 GMT today, reaching the high of 0.7774 earlier during the current trading session. AUD/JPY climbed 1.1% from 84.67 to 85.57.

If you have any questions, comments or opinions regarding the Australian Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *