The legend in the InstaSpot team!
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At the same time, dollar growth is limited by weak economic data from the United States including an unexpected drop in orders for capital goods and weak sales in the secondary housing market, which supports the expectations that the Fed will not raise interest rates.
The growth of US government bond yields supported the dollar and its Australian counterpart also stabilized after the recent sharp decline against the background of the Central Bank's comments and concerns about a ban on the import of Australian coal in China. Despite the fact that the dollar index versus a basket of six major currencies remained almost unchanged in general. The increase in US Treasury bond yields to a weekly maximum had a positive effect on the currency. At the same time, dollar growth is limited by weak economic data from the United States including an unexpected drop in orders for capital goods and weak sales in the secondary housing market, which supports the expectations that the Fed will not raise interest rates.
The foreign exchange market is entering a phase in which it has already played almost all political events such as trade negotiations between the US and China and Brexit. The time has come again to "return to the sources" and pay special attention to fundamental factors. Special attention should be focused on the wage report next week. Most likely, it will be decisive for the dollar which direction to take.
The Australian dollar was able to partially offset the recent losses and gradually rises from a 10-day low, where it was after information appeared about a ban on the import of Australian coal in some ports of China. A currency strategist at the National Bank of Australia, Rodrigo Catril, said that the Australian rebound occurred after the Chinese authorities eased the restrictions on fuel imports. In addition, the positive comments of the head of the Central Bank of the country at the beginning of the day also increased the exchange rate.
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