- AUD / USD is falling for the fourth day in a row.
- The US dollar DXY index reaches its highest level since the end of November.
- Rising US Treasury yields continue to support the USD.
The pair AUD/USD it closed the final three days of the previous week deep in negative territory and has extended its slide on Monday. After hitting a daily low of 0.7637, the pair has modestly recovered. At the time of writing, the pair is trading at 0.7648, shedding 0.58% on the day.
DXY index keeps rising
The general strength of the USD it is still the main topic of the market at the beginning of the week. Backed by a more than 2% increase in the yield on 10-year US Treasuries, the US dollar DXY index has reached its highest level since the end of November at 92.30 on Monday. Currently, the DXY index is up 0.25% on the day at 92.20.
Earlier in the day, the business report of China revealed that exports in February increased 60.6% annually, compared to analysts’ estimate of a 38.9% increase, but this data did not provide a boost to the AUD.
No major US macro data will be released for the remainder of the day and investors will be watching Treasury yields closely. Meanwhile, S&P 500 futures are down 0.55% on the day, suggesting that the USD is likely to maintain its strength in the second half of the day.
On Tuesday, market participants will closely follow data on business sentiment and business conditions from the National Bank of Australia.
AUD / USD technical levels
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