- AUD / USD consolidates its daily gains around 0.7750 in the American session.
- Retail sales in the US increased 9.8% in March.
- The US Dollar Index remains relatively quiet around 91.70.
After hitting its highest level in more than three weeks at 0.7762 on Thursday, the pair AUD/USD appears to have entered a consolidation phase around 0.7750 despite the release of strong US macroeconomic data. At the time of writing, the pair was up 0.4% on the day to 0.7752.
DXY struggles to gain traction
Data released by the US Census Bureau revealed that retail sales in March rose 9.8%. This reading beat the market’s expectation of 5.9% by a wide margin, but did not help the USD gain traction against its rivals amid a more than 2% drop seen in the yield on US Treasuries. to 10 years.
Additionally, the US Department of Labor reported that Initial Unemployment Claims fell to the lowest level in a year to 576,000 in the week ending April 10. At time of writing, the US Dollar Index (DXY) was unchanged on the day at 91.65.
Meanwhile, major Wall Street indices opened sharply higher on upbeat US data, making it difficult for the dollar to attract investors.
There will be no further data releases for the remainder of the day and the USD market valuation is likely to continue to drive the AUD / USD moves.
Technical levels
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