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The Australian dollar has shown consistently negative dynamics in relation to the USD this year, with a drop of nearly 7% over the course of nine months. But what's behind the AUD's apparent weakness and vulnerability? Let’s find the answers in this piece.
By the way, if you want to be ready for the consequences of all major economic events, you can use the economic calendar. It tracks global economic activity and offers all the essential information. The underlying drivers behind this trend may not be too elusive. The Reserve Bank of Australia has held the interest rate steady for four months in a row without signaling a hawkish stance. Simultaneously, the inflation in Australia continues to increase.
In contrast, the US currency and economy are performing robustly. US Treasury bond yields have reached their peaks, the economy turned out to be stronger than expected, and the Fed isn’t going to raise the interest rate yet. This contrast is what allows the USD to outperform the AUD by such a significant margin.
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US consumer sentiment sours; dollar aiding inflation fightKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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