- AUD / USD remains on the defensive Monday.
- The USD continues to outperform its rivals at the start of the American session.
- The optimistic data from Australia does not help the AUD at the beginning of the week.
After climbing to fresh multi-year highs at 0.7821 last Wednesday, the AUD / USD pair moved lower in the second half of the week and is extending its fall on monday. At the time of writing, the pair is moving at its lowest level in six days, losing 1.11% on the day at 0.7674.
DXY index rally continues on Monday
Earlier in the day, the report released by the Australian Bureau of Statistics revealed that retail sales in November increased 7.1% month on month. However, this upbeat data did not help AUD / USD gain traction as the USD started the new week on a solid tone.
After the strong rebound due to rising yields on US Treasuries, the US Dollar DXY Index has maintained its bullish momentum on Monday and has touched its highest level in almost 20 days at 90.55. In the absence of important fundamental factors, market sentiment for risk aversion appears to be allowing the USD to continue to outperform its rivals as a safe haven. At the moment, S&P 500 futures are down 0.68% on the day and the DXY index is up 0.5% at 90.54.
The US economic calendar will not feature any significant data releases for the remainder of the day. Atlanta Fed Chairman Raphael Bostic and Dallas Federal Reserve Chairman Robert Kaplan will speak at 17:00 and 23:00 GMT, respectively.
AUD / USD technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
