- AUD / USD is trading higher after closing lower on Monday.
- The US dollar index is struggling to organize a convincing recovery.
- The major Wall Street indices appear to open sharply lower.
The AUD/USD It advanced to its highest level since late February at 0.7892 on Monday, but turned 180 degrees in the second half of the day to close in negative territory at 0.7830. With the greenback remaining on the defensive on Tuesday, the pair is on the rise and was last seen gaining 0.25% on the day at 0.7850.
DXY is approaching 90.00
At the beginning of the week, copper prices continued to impact the market valuation of the AUD. The 3-month copper reference price on the London Metal Exchange (LME) rose to an all-time high of $ 10,747 / tonne on Monday, but lost its traction. However, 3-month copper on the LME rose more than 1% to $ 10,525 as of 10:00 GMT on Tuesday, helping the AUD gain traction against its rivals.
On the other hand, the US Dollar Index (DXY) is pushing lower after breaking a three-day losing streak on Monday. At the moment, the DXY is down 0.2% to 90.10. However, S&P 500 futures are down 0.75%, suggesting that the USD could capitalize on safe-haven flows if major Wall Street indices suffer heavy losses after the opening bell.
Meanwhile, US data showed that the NFIB Business Optimism Index improved to 99.8 in April from 98.2 in March, but this reading did not elicit a significant market reaction.
Technical levels
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