• AUD/USD shed 30 pips in the last hour, as US T-bond yields rise amid risk-on market mood.
  • Broad US Dollar strength across the board weighs on the AUD/USD pair.
  • US Consumer Confidence rose more than expected by economists, the AUD/USD barely moved.

The AUD/USD barely advances during the New York session, is up 0.08%, trading at 0.7497 at the time of writing. Earlier in the day, the pair dipped to 0.7483, yet bounced off the daily lows to print a daily high at 0.7524, finally settling at current levels.

The market sentiment is upbeat due to robust US Q3 corporate earnings, with almost 81% of the S&P 500 companies reporting earnings, beating expectations. Additional factors like inflationary pressures and tightening monetary policy conditions remain in the backseat.

However, in the last hour, rising US T-bond yields seem to change the tone of risk-sensitive currencies, like the aussie dollar. The US 10-year Treasury yield is advancing 0.07%, sitting at 1.636%, putting a lid on the AUD/USD pair upbreak move above 0.7500. Also, the US Dollar Index reclaims the 94.00 level, up 0.18%, at press time. 

US mixed macroeconomic, ignored by AUD/USD traders

The US economic docket unveiled the US Housing Price Index for August (MoM) reading which rose by 1%, lower than the 1.3% foreseen. Further, the S&P/Case-Shiller Home Price Indices (YoY) expanded by 19.7% less than the 20.1% expected.

Further, US New Home Sales for September increased by 0.8M, better than the 0.76M estimated by analysts. The US Consumer Confidence for October improved to 113.8 versus 108.3 expected.

The AUD/USD pair reaction was muted, but as US T-bond yields started to rise, the pair shed 30 pips, trading at current levels.

Next ahead on the Australian economic docket, the RBA Trimmed Mean CPI for the Q3 is expected at 0.5%, while the Consumer Price Index for the same period is estimated to increase by 0.8%.

KEY ADDITIONAL LEVELS TO WATCH

AUD/USD

Overview
Today last price 0.7497
Today Daily Change 0.0006
Today Daily Change % 0.08
Today daily open 0.7491
 
Trends
Daily SMA20 0.7355
Daily SMA50 0.7321
Daily SMA100 0.7398
Daily SMA200 0.7562
 
Levels
Previous Daily High 0.7506
Previous Daily Low 0.7463
Previous Weekly High 0.7547
Previous Weekly Low 0.7378
Previous Monthly High 0.7478
Previous Monthly Low 0.717
Daily Fibonacci 38.2% 0.749
Daily Fibonacci 61.8% 0.7479
Daily Pivot Point S1 0.7467
Daily Pivot Point S2 0.7444
Daily Pivot Point S3 0.7424
Daily Pivot Point R1 0.751
Daily Pivot Point R2 0.753
Daily Pivot Point R3 0.7553

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news Join Telegram

Recommended content


Recommended content

Editors’ Picks

EUR/USD eases to 0.9900 on disappointing German data

EUR/USD eases to 0.9900 on disappointing German data

EUR/USD is paring back gains towards 0.9900 in early European hours, as German Factory Orders disappointed with -2.4% in August vs. -0.7% expected. The US dollar licks its wounds amid a better market mood. Eurozone data and ECB minutes are awaited. 

EUR/USD News

GBP/USD remains pressured towards 1.1300 amid UK rating downgrade

GBP/USD remains pressured towards 1.1300 amid UK rating downgrade

GBP/USD is reversing towards 1.1300, as investors digest Fitch Ratings downgrade to the UK sovereign ratings amid political and economic woes. The pair shrugs off a risk-on market profile and a broadly subdued US dollar. US data next of note. 

GBP/USD News

Gold poised to challenge September highs at $1,735

Gold poised to challenge September highs at $1,735

Gold price is attempting a bounce as US dollar holds lower ground with yields. Market remains upbeat despite a lack of clarity on the Fed rate hike outlook. XAU/USD eyes $1,735 on a sustained break above the 50 DMA barrier.

Gold News

Crypto.com price consolidates, forecasting a 22% rally for CRO holders

Crypto.com price consolidates, forecasting a 22% rally for CRO holders

Crypto.com price seems to have undone its breakout gains seen in the last week of September. This downtrend has morphed into a tight consolidation showing no volatility. 

Read more

Is the recent S&P 500 rally sustainable?

Is the recent S&P 500 rally sustainable?

Can we trust the recent rally? The market just rallied +5.7% in two trading days. Bulls argue that the rebound could push even higher as the start of Q3 earnings season starts up next week.

Read more

Forex MAJORS

Cryptocurrencies

Signatures