Australian Dollar Extends Rally Caused by FOMC Minutes

The Australian dollar started a rally yesterday after the release of the Federal Reserve policy minutes and extended it into the Thursday’s trading session, though the currency has backed off a bit as of as now. Positive Australian macroeconomic reports helped the Aussie as well.

The Melbourne Institute Survey of Consumer Inflationary Expectations rose from 3.8% in September to 4.3% in October. The number of home loans increased by 1.0% in August from July, two time the forecast increase of 0.5%. Now, traders wait for Friday’s release of the Financial Stability Review released by the Reserve Bank of Australia twice a year.

AUD/USD advanced from 0.7787 to 0.7815 as of 11:01 GMT today, and its daily high was at 0.7835. EUR/AUD dropped from 1.5222 to 1.5165.

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