Aussie-Dollar gains positive traction for a 4th successive day

Published: January 26 2023, 05:06 GMT+0

Aussie-Dollar gains positive traction for a 4th successive day

AUD/USD posts light gains on a low-volatility day, ranging between 0.7094 – 0.7125 and is now at 0.7122.

Aussie-Dollar upside coincides with further encouraging market factors 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 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.

At the same time, EUR/JPY is down 30 pips from the beginning of the session and now trades around 141.05. GBP/JPY closed at 160.23 (down 0.23%). GBP/NZD withdraws 0.21% to trade around 1.9091.

Also worthy of note, 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 scheduled for 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.