Jun 18, 2021 10:48:06 AM GMT
The AUD/USD pair got here beneath robust bearish stress the 2nd 1/2 of the week and suffered heavy losses on Wednesday and Thursday no matter the upbeat Australian jobs report.
During the Asian buying and selling hours on Friday, the pair prolonged its slide and touched its lowest stage of 2021 at 0.7511 earlier than staging a rebound. As of writing, the pair changed into down 0.1% at the day at 0.7543. In the absence of essential drivers, the pair's latest rebound appears to be a technical correction of the modern day decline. On a weekly basis, AUD/USD stays on the right track to lose greater than 2%.
The broad-primarily based totally USD energy at the again of the hawkish shift witnessed the FOMC's Summary of Economic Projections keeps to dominate the markets in advance of the weekend.
The US Dollar Index (DXY), which tracks the greenback's overall performance towards a basket of six important currencies, touched its maximum stage in greater than months at 92.07 in advance the day however appears to have long past right into a consolidation phase. Currently, the DXY is flat at 91.90.
There may not be any high-tier macroeconomic records releases featured the US financial docket on Friday and AUD/USD is possibly to retain to range in a good variety round 2021 lows.