- AUD / USD is rising during the American session.
- The US Dollar Index is in negative territory near 90.50.
- The major Wall Street indices rebounded on Tuesday.
The pair AUD/USD The first half of the day moved sideways near 0.7520, but gained traction during US trading hours. At time of writing, the pair was up 0.2% on the day at 0.7552.
Bulk sales returns in USD
Renewed selling pressure surrounding the dollar appears to be helping AUD / USD rise. After staying unchanged for most of the day around 90.70, the US Dollar Index (DXY) turned south after major Wall Street indices started the day in positive territory. At the moment, the DXY is losing 0.2% at 90.51 and the S&P 500 Index is gaining 0.6% at 3.669.
The U.S. Food and Drug Administration (FDA) report that Moderna’s coronavirus vaccine will be approved for emergency use later this week appears to be the main catalyst behind the improved sentiment. from the market on Tuesday.
Hours earlier, US data showed industrial production in November rose 0.4% and IBD / TIPP economic optimism dropped from 50 in November to 49 in December. However, market participants showed little or no reaction to these figures.
On Wednesday, Australia’s December Preliminary Manufacturing and Services PMI data from the Commonwealth Bank will be considered for further momentum.
Technical levels
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