Article By RoboForex.com
The Australian Dollar continues rising against the USD on Wednesday. The current quote for the instrument is 0.7645. Today’s statistics from Australia was quite neutral. The Westpac Consumer Sentiment added 0.4% in July and increased up to 96.6 points after losing 1.8% and falling up to 96 points the month before. Westpac, which monitors the indicator dynamics, says that there are no really positive factors in the consumer prices sector so far. The indicator had been falling for three months in a row, and the July growth is just the first step on the way to stabilization. It is thought that the higher the Consumer Sentiment index, the better for the national currency.
However, these days the Aussie mostly relies on the USD weakness. The American Dollar is getting more and more troubled, and other currencies are trying to benefit from it. Apart from a low-intensity political scandal featuring, theoretically, Donald Trump, Russia, the Congress, and others, the USD is being pressured by the market expectations of what Janet Yellen, the Fed Chair, might say. She is going to speak in the Congress today and tomorrow and may, one way or another, touch upon fiscal policy matters, the economic outlook, and future steps of the Fed relating to the rate increase. The USD is expecting nothing really positive from Yellen and, as a result, retreating, thus providing other currencies with a chance.
Article By RoboForex.com
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