Weekly Roundup: Australian dollar zigzags higher amid risk-on mood

Currencies Direct November 20th 2023 - < 1 minute read

The Australian dollar faced choppy trade last week, as a broadly upbeat market mood was offset by weaker data releases.

Early in the week, both Australian consumer and business confidence deteriorated more than expected. Later in the session, an uptick in unemployment put pressure on AUD.

However, overall AUD exchange rates were able to zigzag higher, as an improving sentiment boosted the risk-sensitive ‘Aussie’.

The positive tone has continued at the start of this week’s session, pushing the Australian dollar even higher.

Coming up, the Reserve Bank of Australia’s (RBA) meeting minutes could infuse AUD with volatility. Will a dovish tone see the ‘Aussie’ stumble?

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Currencies Direct

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