A slow down? After three days of going up, Aussie-Dollar is flat today, hovering around 0.7119.

Published: January 26 2023, 05:21 GMT+0

A slow down? After three days of going up, Aussie-Dollar is flat today, hovering around 0.7119.

Currently trading at 0.7119, AUD/USD remains range-bound between 0.7094 and 0.7125.

Uptick comes while some more positive signs for the Australian dollar are out as highly important Crude Oil Inventories data from United States beat analyst expectations of 971,000 with a reading of 533,000.

Meanwhile, Australia Consumer Price Index came out at 1.9, while a consensus of analysts was expecting 1.6. Australia Trimmed Mean CPI (QoQ) (Q4) released yesterday at 00:30 UTC with a figure of 1.7, while the previous figure was 1.8.

Other currencies are also rising as USD/CAD is up 0.17%.

Meanwhile, EUR/JPY closed at 141.12 (down 0.17%). After ending yesterday's session at 160.6, GBP/JPY lost 28 pips and is trading around 160.31.

The market is looking forward to the release of new data: Australia Producer Price Index projected to decline to 1.7 while previous data was 1.9; data will be released tomorrow at 00:30 UTC. Australia Producer Price Index is expected tomorrow at 00:30 UTC. Australia CFTC AUD speculative net positions will be released tomorrow at 20:30 UTC.

The currency pair has been trending positively for about a month. The Australian dollar has gained 4.53% since its lowest print of 0.6213 earlier this year.

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