FXstreet.com (San Francisco) - The AUD/USD is closing the week around to 1.0560/70 after trading above 1.0600 on Thursday and declining to 1.0500 Friday's European session. On the week basis, The AUD/USD is almost flat from the opening week at 1.0570.
In August, the pair is higher by around 90 pips from the 1.0480 in the August 1st. Despite that, TD securities affirms that Historically, "AUD/USD tends to weaken in August."
In a recent report, the TDS Research Team published that looking August pattern since 1993, "the seasonal pattern is more balanced" taking "ten positive years versus nine negative." But if market sees performance, it "clearly favours AUD weakness, with an average loss of 3.5% in the down months versus an average gain of 2% in the positive months."
In August, the pair is higher by around 90 pips from the 1.0480 in the August 1st. Despite that, TD securities affirms that Historically, "AUD/USD tends to weaken in August."
In a recent report, the TDS Research Team published that looking August pattern since 1993, "the seasonal pattern is more balanced" taking "ten positive years versus nine negative." But if market sees performance, it "clearly favours AUD weakness, with an average loss of 3.5% in the down months versus an average gain of 2% in the positive months."
