AUD/USD edges lower after failing to gain traction above 0.6550.
The post AUD/USD edges lower after failing to gain traction above 0.6550. appeared on BitcoinEthereumNews.com.
AUD/USD weakens after reaching a fresh YTD high of 0.6564 on Thursday. US-China trade lifts risk sentiment, but profit taking and a firmer USD limit gains. AUD/USD is heading toward 0.6500, with bullish momentum fading above 0.6550. The Australian Dollar (AUD) is pulling back from weekly highs against the US Dollar (USD) on Friday. At the time of writing, the AUD/USD pair is trading near 0.6520, having reached an intraday high of 0.6561. AUD/USD retreats as USD regains ground and sentiment stabilizes The US Dollar is recovering slightly after falling to three-year lows against its peers. On Friday, the Bureau of Economic Analysis released the latest core Personal Consumption Expenditure (PCE) figures. The core numbers, which reflect the pace at which prices are rising for goods excluding volatile items such as food and energy, increased in May. The annual rate increased by 2.7%, higher than the previously estimated 2.6%, with the monthly figure rising by 0.2 percentage points. The Federal Reserve’s (Fed) preferred measure of inflation is closely monitored for potential clues on the trajectory of monetary policy. However, with President Trump placing pressure on the Fed to reduce rates prior to the September meeting, investors were also looking at the Michigan Sentiment Index numbers, which reflected a slight increase in optimism in June. Despite the release of macroeconomic data, the easing of geopolitical tensions this week has been a major driver of the surge in the AUD/USD price. With the ceasefire between Israel and Iran boosting demand for risk assets, safe-haven flows had diminished, placing additional pressure on the Greenback. News of China and the United States finalizing a trade deal on Friday provided additional support for AUD/USD, which was eager to retest the key psychological resistance level of 0.6600. As markets continued to digest the recent developments and…
Filed under: News - @ June 28, 2025 4:27 pm