Australian Dollar edges higher to near 0.6950 on RBA hawkish rhetoric

The post AUD/USD climbs as Chinese Yuan strength supports the Aussie appeared on BitcoinEthereumNews.com. AUD/USD advances toward the 0.6960 area on Friday, supported by a softer US Dollar (USD) and renewed strength in the Chinese Yuan (CNY). The pair continues to recover on the four-hour chart, although escalating tensions between the United States (US) and Iran are limiting broader risk appetite. US President Donald Trump said on Truth Social that Iran had requested further negotiations and that Washington had agreed to continue talks. However, Trump warned that the ceasefire was “over,” raising concerns that hostilities could intensify despite diplomatic channels remaining open. Meanwhile, the Chinese Yuan strengthened to a one-week high against the US Dollar, offering additional support to the Australian Dollar given Australia’s close trade ties with China. The move followed a stronger fixing from the People’s Bank of China (PBOC), which set the USD/CNY midpoint at 6.7989, below th

The post Australian Dollar firms as hawkish RBA, Iran talks cap USD gains appeared on BitcoinEthereumNews.com. AUD/USD trades around 0.6950 on Friday at the time of writing, up 0.10% on the day after reaching a more than two-week high earlier in the day. The pair gives back part of its gains as investors remain caught between a weaker US Dollar (USD) and lingering factors supporting the Greenback. The Australian Dollar (AUD) benefits from the weakness of the US Dollar, driven by expectations of easing tensions in the Middle East. US President Donald Trump said that Iran had reached out to seek an agreement with Washington, while a White House official confirmed that technical talks on Iran’s nuclear program and the Strait of Hormuz are continuing. However, geopolitical concerns remain elevated following recent US strikes against Iranian targets and Tehran’s retaliatory attacks on American interests across the region. At the same time, markets continue to price in at least one interest

The post Australian Dollar holds mid-0.6900s as weak USD meets Iran risks appeared on BitcoinEthereumNews.com. The AUD/USD pair attracts buyers for the second straight day and climbs to a two-and-a-half-week top, around the 0.6970 area, during the Asian session on Friday. Spot prices, however, retreat a few pips in the last hour and currently trade around mid-0.6900s, still up 0.10% for the day. Against the backdrop of Wednesday’s less hawkish FOMC Minutes, hopes for diplomacy to ease tensions in the Middle East drag the safe-haven US Dollar (USD) to an over one-week low and act as a tailwind for the AUD/USD pair. US President Donald Trump told reporters on Thursday that Iran had called to make a deal with the US. Furthermore, a White House official signaled that the US is still committed to the memorandum of understanding with Iran as technical talks over Tehran’s nuclear program and the Strait of Hormuz continue. However, the geopolitical risk premium remains in play amid renewed fig

The post Australian Dollar firms as US Dollar softens appeared on BitcoinEthereumNews.com. AUD/USD trades higher near the 0.6940 area on Thursday, as the Australian Dollar (AUD) benefits from a softer US Dollar (USD), even after stronger-than-expected United States (US) jobless claims data showed that the labor market remains stable. US Initial Jobless Claims fell to 215K, below expectations of 218K and the previous 217K, suggesting that layoffs remain limited. However, the Greenback failed to gain strong traction as the broader US Dollar Index (DXY) slipped for a second straight session, while markets continued to assess geopolitical risks and the Federal Reserve’s (Fed) policy outlook. China also remains a key driver for the Aussie, given Australia’s strong trade exposure. China’s Producer Price Index (CPI) report, released late Wednesday, showed a 4.1% YoY rise in June, the fastest pace in four years, while China’s Consumer Price Index (CPI) slowed to 1% YoY, highlighting stronger f

The post Australian Dollar rises as US Dollar softens, tensions in focus appeared on BitcoinEthereumNews.com. AUD/USD trades around 0.6940 on Thursday at the time of writing, up 0.16% on the day, as the weaker US Dollar (USD) supports the pair despite persistent tensions in the Middle East. Investors continue to view the latest exchange of attacks between the United States (US) and Iran as an attempt by both sides to strengthen their negotiating positions ahead of a potential return to peace talks, limiting demand for safe-haven assets for now. The US Dollar remains under pressure on Thursday, with the US Dollar Index (DXY) down 0.11% near 100.95 at the time of press. The Greenback struggles to benefit from stronger-than-expected US economic data, as the US Department of Labor reported that Initial Jobless Claims fell to 215K in the week ending July 4, down from 217K previously, while Continuing Jobless Claims edged up slightly to 1.814M. The US Dollar also remains weighed down by the

The post Why US-Iran frictions are not hurting the risk-sensitive Australian Dollar this time? appeared on BitcoinEthereumNews.com. The Australian Dollar (AUD) keeps trading sideways against the US Dollar (USD) on Thursday, showing a surprising resilience to the escalating tensions in Iran. The pair has been steady above 0.6900 in the face of the rising tensions in Iran, with bearish momentum fading, as investors remain hopeful that Washington and Tehran will return to the negotiating table. US and Iran exchanged attacks for the second consecutive day on Thursday, but failed to do any significant harm to the risk-sensitive Australian Dollar. Investors keep seeing these skirmishes as manoeuvres to gain leverage in the peace negotiations, with the idea of an all-out war discarded for now. Fed minutes fail to support the USD Beyond that, the minutes of the Federal Reserve’s (Fed) first monetary policy meeting under Chair Kevin Warsh’s leadership showed a government board split on the near

The post Australian Dollar: Tentative upside risk above 0.6980 against US Dollar – UOB appeared on BitcoinEthereumNews.com. United Overseas Bank’s (UOB) Quek Ser Leang sees AUD/USD confined to a 0.6915–0.6950 intraday range as momentum remains lacklustre. For 1–3 weeks, upward momentum is tentatively building, with rising risk of a break above 0.6980 while 0.6900 acts as strong support. Over 1–3 months, however, the broader trend remains negative, with focus on 0.6707 below 0.6835. Australian Dollar holds in tight band “24-HOUR VIEW: AUD fell to a low of 0.6921 two days ago. When it was at 0.6925 yesterday, we stated that “while AUD could retreat further, given the lacklustre downward momentum, any decline is likely to be contained within a 0.6900/0.6950 range.” AUD subsequently rose to 0.6946, dipped to 0.6907 before recovering to close marginally higher by 0.01% at 0.6929. There has been no clear shift in either downward or upward momentum, and AUD is likely to range-trade today, pro

The post AUD/USD Price Forecast: 0.6860 is key support level amid geopolitical risks appeared on BitcoinEthereumNews.com. The Australian Dollar (AUD) trades marginally higher at around 0.6935 against the US Dollar (USD) during the European trading session on Thursday. The Aussie pair edges up as the US Dollar ticks lower despite escalating Middle East risks and hawkish Federal Open Market Committee (FOMC) Minutes of the June policy meeting. At press time, the US Dollar Index (DXY), which gauges the Greenback’s value against six major currencies, trades 0.13% lower to near 100.92. The attacks on Iranian infrastructure by United States (US) military forces signal that the restart of the war would last long, a scenario that might keep oil prices higher and the appeal of safe-haven assets upbeat. According to Axios, the US Air Force bombed two railway bridges in Iran on Wednesday. Meanwhile, the FOMC Minutes showed on Wednesday that policymakers are concerned about upside inflation risks a