Title: AUD/USD erases early recovery gains, trades around 0.7420 ahead of US data
Jul 16, 2021 10:44:30 AM GMT
By: AnalysisWatch
AUD/USD struggles to maintain its healing momentum on Friday.
US Dollar Index rises towards 92.70 in advance of US information.
Wall Street's predominant indexes appearance to open modestly better.
The AUD/USD pair misplaced extra than 30 pips on Thursday and staged a modest rebound at some point of the Asian buying and selling hours on Friday. However, the pair appears to be having a hard time maintaining its bullish momentum and become ultimate visible posting small every day losses at 0.7423.
In the absence of high-tier macroeconomic information releases, the USD's marketplace valuation keeps to affect AUD/USD's moves in advance of the weekend. Following Wednesday's sharp decline, America Dollar Index (DXY) received 0.2% on Thursday and keeps to push better on Friday, proscribing AUD/USD's upside. At the moment, the DXY is growing 0.12% at 92.66.
Later in the session, America Census Bureau will launch the June Retail Sales information and the University of Michigan will put up the initial Consumer Sentiment Index for July.
Meanwhile, US inventory index futures are buying and selling modestly better on Friday, suggesting that Wall Street's predominant indexes ought to open in the high-quality territory and offer assist to AUD/USD.