AUD/USD Continues to Eye September-High Despite Waning Retail Interest

Australian Dollar Talking Points

AUD/USD appears to be making another run at the September-high (0.7315) as the 32.8K rise in Australia Employment instills an improved outlook for region, and the exchange rate may continue to threaten the bearish trend from earlier this year as it takes out the series of lower highs lows from late last week.

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AUD/USD Continues to Eye September-High Despite Waning Retail Interest

Image of daily change for audusd rate

The Australian dollar may stage a larger correction ahead of the next Reserve Bank of Australia (RBA) meeting on December 4 as the fresh data prints put pressure on the central bank to normalize monetary policy, but it seems as though Governor Philip Lowe Co. are predetermined to tame bets for higher borrowing-costs as ‘the Board does not see a strong case to adjust the cash rate in the near term.’

The RBA may continue to run the clock with its wait-and-see approach as officials insist ‘inflation remains low and stable,’ and little to no changes in the forward-guidance for monetary policy may produce headwinds for AUD/USD especially

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