The Australian dollar has been trading in a close range at about 94 US cents as investors expected the release of key economic data from the United States.
On Tuesday, the Aussie was trading at 94.04 US cents, up from Monday’s 93.89 US cents.
The currency traded between 94.02 US cents and 94.18 US cents.
The US economic growth data and employment figures for June will be released later this week. The Federal Reserve will also announce the minutes of its policy meeting this week.
“If you look right across the markets overnight, they’re really just treading water not wanting to commit ahead of those major releases. It is likely the US dollar will strengthen this week after last week’s positive American economic data,” said Steven Dooley, Currency Strategist at Western Union Business Solutions.
Meanwhile, the Australian bond market tumbled. The three-year bond futures contract traded at 97.310, to 2.690%. The 10-year bond was at 96.540, to 3.460%.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar has been trading in a close range at about 94 US cents as investors expected the release of key economic data from the United States.
On Tuesday, the Aussie was trading at 94.04 US cents, up from Monday’s 93.89 US cents.
The currency traded between 94.02 US cents and 94.18 US cents.
The US economic growth data and employment figures for June will be released later this week. The Federal Reserve will also announce the minutes of its policy meeting this week.
“If you look right across the markets overnight, they’re really just treading water not wanting to commit ahead of those major releases. It is likely the US dollar will strengthen this week after last week’s positive American economic data,” said Steven Dooley, Currency Strategist at Western Union Business Solutions.
Meanwhile, the Australian bond market tumbled. The three-year bond futures contract traded at 97.310, to 2.690%. The 10-year bond was at 96.540, to 3.460%.
The material has been provided by InstaForex Company – www.instaforex.com
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