Aussie Dollar Rises as Australian Fed President Bullock Hints at Possible Rate Hike
The Australian dollar rose after Australian Federal Reserve President Bullock said on Wednesday that the central bank would be prepared to raise interest rates if CPI did not return to its target range of 1%-3%. However, some analysts said the Aussie's upside could be limited due to weaker-than-expected GDP data. The AUDUSD is trading around 0.6650 today. Daily chart analysis shows a bullish bias for the pair as it remains within a rising wedge pattern. Moreover, the 14-day Relative Strength Indicator (RSI) is slightly above the 50 level, reinforcing this bullish bias.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US President Donald Trump says was ready to strike Houthis in Yemen, then pulled back
ZAMA gains traction as 24h trading volume surges
Global economy risks fragmentation! Australia bets on AI as a new growth engine
In a potentially more fragmented and unpredictable global economy over the next 40 years, Australia relies on the deployment and development of artificial intelligence (AI) to drive economic growth.
Europe’s aviation fuel “red alert” in the fourth quarter: Shortfall will reach 510,000 barrels/day, South Korea’s exports surge to a four-year high to urgently fill the gap
According to analysts and shipping data, Europe will face a supply gap for aviation fuel in the fourth quarter, even as it turns to distant suppliers such as South Korea. South Korea's aviation fuel exports to Europe in September are set to reach a four-year high.
Crypto prices
More
