Australian dollar gains momentum as bear hunting season opens
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#acbb1c95 ver:0.7

The Australian dollar (AUD) gains momentum as bear hunting season opens, with the AUD/USD pair rising to 0.6585. The AUD has been in a slow recovery despite the Federal Reserve's delay in cutting interest rates. The US economy expanded by 1.8% in Q1, and the bond market expects a rate hike by the Reserve Bank of Australia (RBA) due to high inflation. However, weaker domestic data and a stronger US dollar put pressure on the AUD. Traders are awaiting US labor market data and the FOMC press conference for further insights. Technical analysis suggests the AUD/USD pair may challenge the upper boundary of a symmetrical triangle pattern. The AUD's performance is influenced by interest rates, the Chinese economy, iron ore prices, trade balance, and market sentiment. The AUD registered solid gains against the USD driven by positive sentiment and strong US economic data. The article predicts that the AUD will rise towards 70 cents as bear hunting season opens on the big bear short. #AustralianDollar #AUDUSD #FederalReserve #RBA #inflation #USLaborMarket #FOMC #technicalanalysis #marketsentiment...

#newstr #AustralianDollar #CurrencyMarket #GlobalEconomy 

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