A slow down? After three days of going up, the Australian dollar is flat today, hovering around 0.7111.

Published: January 26 2023, 00:20 GMT+0

A slow down? After three days of going up, the Australian dollar is flat today, hovering around 0.7111.

After closing the previous trading day at 0.711, AUD/USD is up to 0.7111, which makes for a move of 0.01%/1 pips today.

This move comes while some more positive signs for the Australian dollar are out as following a previous reading of 8.41 million, Crude Oil Inventories in United States released yesterday at 15:30 UTC fell short of the 971,000 figure expected by analysts with an actual reading of 533,000.

At the same time, 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.

A look at other currencies also shows bullish price action as GBP/CAD improves 0.17% to trade around 1.662.

Meanwhile, USD/JPY closed at 129.23 (down 0.22%). EUR/JPY is trading around 141.16 (down 20 pips).

Elsewhere, Australia Producer Price Index expected to decline to 1.7 while its preceding data was 1.9, data will be available tomorrow at 00:30 UTC. Australia Producer Price Index is expected tomorrow at 00:30 UTC. Australia CFTC AUD speculative net positions is expected 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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