A slow down? After three days of going up, the Australian dollar is flat today, hovering around 0.711.

Published: January 26 2023, 02:36 GMT+0

A slow down? After three days of going up, the Australian dollar is flat today, hovering around 0.711.

AUD/USD slides down from 0.711 to 0.711 today, losing 1 pips (0.01%).

On the flip side, positive data for Aussie-Dollar released earlier when Crude Oil Inventories in United States fell short of market expectations (971,000) with a reading of 533,000, continuing the decline from the previous figure of 8.41 million.

Meanwhile, Australia Consumer Price Index released yesterday at 00:30 UTC with a figure of 1.9, while the previous figure was 1.8. Australia Trimmed Mean CPI (QoQ) (Q4) came out at 1.7, while a consensus of analysts was expecting 1.5.

In the meantime, negative performances are also seen in other pairs as EUR/JPY is down 15 pips from the beginning of the session and now trades around 141.2. After ending yesterday's session at 160.6, GBP/JPY lost 21 pips and is trading around 160.39.

Though Aussie-Dollar has been dropping, other pairs have been performing better: having closed the previous session at 1.3379, USD/CAD is up 0.13% today to currently trade at around 1.3396.

Furthermore, as things stand, upcoming Australia Producer Price Index data is projected to fall short of market expectations with newly published data of 1.7, following on from the preceding figure of 1.9. New data is set to be published tomorrow at 00:30 UTC. Australia Producer Price Index is expected tomorrow at 00:30 UTC. Australia CFTC AUD speculative net positions scheduled to come out tomorrow at 20:30 UTC.

The currency pair has been trending positively for about a month. This year has been a bright one for Aussie-Dollar after trading as low as 0.6213 and going on to appreciate by 4.53% year to date.

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