AUD/USD (week of 21-25/11)

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Weekly Summary

The Australian dollar is trading around 0.6753, after closing the previous week at 0.6753 (down 0%) .

A good end to the trading week, AUD/USD is up to 0.6753, after closing yesterday at zero. Overall, a 0% move or 6,752 pips this week. (Start trading Aussie-Dollar at FXTM today).

Aussie-Dollar upside coincides with further encouraging market factors as United States Crude Oil Inventories released earlier showed a marked improvement to -3.69 million from the preceding data of -5.4 million, but fell short of the -1 million figure forecast by a consensus of market analysts. Following a previous reading of 223,000, Initial Jobless Claims in United States released Wednesday fell short of the 225,000 figure expected by analysts with an actual reading of 240,000.

Nevertheless, United States Core Durable Goods Orders came out at 0.5%, better than analyst estimates of 0.1% and improving upon the previous reading of -0.9%.

Meanwhile, United States New Home Sales (Oct) released Wednesday with a figure of 632,000, while the previous figure was 588,000. United States Building Permits came out at 1.51 million, while a consensus of analysts was expecting 1.53 million.

Also worthy of note, Australia Retail Sales projected to come out at 0.5% — worse than previous data of 0.6%; data will be released Monday. Australia Retail Sales is expected Friday.

Furthermore, the market is looking at Australia Construction Work Done (QoQ) (Q3) will be released Wednesday.

Nov. 25, 2022

Weak sentiment sees the Australian dollar posting 0.2% loss

(23:06) GMT

Aussie-Dollar weakened earlier in the day, before moving away from its 0.6723 low and recovering back to 0.6753.

As the trading day comes to an end, chart analysis indicates AUD/USD is currently alternating around 0.6748 with price action moving above and below this key level throughout the session.

Though Aussie-Dollar has been dropping, other pairs have been performing better: USD/JPY added 0.37% to its value, now trading at 139.1. USD/CHF improves 0.31% to trade around 0.9459. USD/CAD climbs 0.32% to trade around 1.3377.

Having set a significant low of 0.6213 a month ago, Aussie-Dollar is trading 8.89% higher.

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