Neutral
AUD/USD retreats from monthly high amid geopolitical tensions and mixed economic data.
Over the past 24 hours, the Australian Dollar (AUD) has experienced fluctuations against the US Dollar (USD), reaching a monthly high above 0.7020 before retreating. This movement is influenced by geopolitical developments, particularly in the Middle East, and upcoming Australian employment data.
Key points
- AUD/USD reached a monthly high above 0.7020, driven by risk-on sentiment amid hopes for a ceasefire in Iran.
- The pair retreated from its peak, trading near 0.7010, as the US Dollar strengthened due to geopolitical risks and rising oil prices.
- Upcoming Australian employment data for June, with expectations of 15,000 new jobs and an unemployment rate of 4.4%, may influence future AUD/USD movements.
Sources
AI-generated from public news sources. Not financial advice.
