AUDUSD Exchange Rate

Producer prices in the U.S. increased by more than expected in the month of April, according to a report released by the Labor Department on Tuesday.

The Australian dollar weakened against other major currencies in the Asian session on Monday.

The U.S. dollar was higher against its major counterparts in the New York session on Friday, as investors awaited the release of U.S. inflation data for April next week, which will guide the outlook for Fed rate cuts.

A report released by the University of Michigan on Friday showed a substantial deterioration in U.S. consumer sentiment in the month of May. The University of Michigan said its consumer sentiment index plunged to 67.4 in May from 77.2 in April. Economists had expected the index to edge down to 76.0.

US CPI report may show the next direction of EURUSD; UK employment data may take GBPUSD down; Is Australia labour report strong enough to take AUDUSD out of trading range?

The Dollar Index (DXY) steadied, settling at 105.30 (105.20) ahead of more Fed speak this week. US Treasury Yields rebounded, with the 10-Year Rate climbing to 4.50% (4.45%).

The Australian Dollar soared past the 0.66 cent mark to 0.6620 (0.6585), outperforming it Peers following higher Iron Ore and base metal prices.

AUDUSD repeatedly fails to conquer the 0.6643-0.6666 range ; But outlook is positive as price holds above 50 and 200-day SMAs ; Momentum indicators deteriorate but remain in positive zones