AUD/USD bulls reclaimed 0.6900 as the USD wobbles – by christianborjon AUDUSD Majors Currencies
6900. Friday, the story is different, with the AUD/USD recovering some ground while the US Dollar is pairing its earlier gains. At the time of writing, the AUD/USD is trading at 0.69600, above its opening price by 0.74%.Wall Street continues to portray investors’ positive mood. Data from the United States flashes deterioration, as Existing Home Sales for December plunged 1.5%, its lowest level since November 2010, according to the National Association of Realtors.
“December was another difficult month for buyers, who continue to face limited inventory and high mortgage ,” said NAR Chief Economist Lawrence Yun. “However, expect sales to pick up again soon since mortgage rates have markedly declined after peaking late last year.”, which tracks the buck’s performance against its peers, prints minimal gains of 0.06%, at 102.123, after hitting a daily high of 102.552. Contrarily, US Treasury yields advance, with the 10-year benchmark note rate up nine bps, at 3.488%.
In the meantime, a couple of Fed officials crossed newswires. Philadelphia Fed President Patrick Harker, opened the door for a downshift in interest rate increases, saying, “Hikes of 25 basis points will be appropriate going forward.” He expects the US economy to grow by 1% and the to jump to 4.5% from 3.5%. Later, KansasCiti Fed President Esther George said that the Federal Reserve must be “patient” to see if inflation in the services sector is waning.
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