- AUD/USD pushes higher during the American trading hours.
- US Dollar Index stays in the red below 90.00.
- Wall Street's main indexes register impressive gains on Monday.
The AUD/USD pair gained traction in the second half of the day on Monday and reached a fresh daily high of 0.7756. As of writing, the pair was up 0.24% on the day at 0.7750.
DXY looks to close the day below 90.00
In the absence of high-tier macroeconomic data releases, the risk-positive market environment is making it difficult for the greenback to find demand at the start of the week. Reflecting the upbeat mood, the S&P 500 and the Nasdaq Composite indexes are up 1.2% and 1.9%, respectively. Meanwhile, the US Dollar Index is losing 0.2% at 89.85.
Meanwhile, the benchmark 10-year US Treasury bond yield is down nearly 1% on the day, putting additional weight on the USD's shoulders.
Earlier in the day, the Federal Reserve Bank of Chicago announced that the National Activity Index in April declined to 0.24 from 1.71 in March but this print failed to trigger a market reaction.
There won't be any data releases featured in the Australian economic docket on Tuesday. Later in the day, New Home Sales data and the Conference Board's Consumer Sentiment Index from the US will be watched closely by market participants.
Technical levels to watch for
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