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Despite varied statistics, the AUD/USD pair is resuming its upward trajectory.

The Australian dollar, in tandem with the US dollar, is displaying strength this Tuesday, with the current AUD/USD exchange rate at 0.6593.

The morning data from Australia painted a mixed picture. On the positive side, the Westpac consumer sentiment index for December saw a 2.7% increase, bouncing back from a previous dip of 2.6%. This development is likely attributed to a slowdown in inflation, offering a positive note.

However, the NAB business confidence index took an unexpected downturn to -9 points in November from the preceding -3 points. This decline raises eyebrows, especially during Australia's peak business season.

In summary, the AUD is evidently leveraging a hiatus in the USD strengthening trend, consolidating and strengthening its position.

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The post Positive Momentum for AUD: Overview for December 12, 2023 appeared first at R Blog - RoboForex.

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By: Anna Rostova
Title: Positive Momentum for AUD: Overview for December 12, 2023
Sourced From: blog.roboforex.com/blog/2023/12/12/positive-momentum-for-aud-overview-for-december-12-2023/
Published Date: Tue, 12 Dec 2023 08:43:55 +0000

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