- AUD / USD rose to its highest level since early September at 0.7387.
- The US Dollar Index remains calm near 92.00 on Friday.
- Wall Street appears to open modestly higher on a shorter trading day.
The pair AUD/USD It advanced to its highest level in 12 weeks at 0.7387 on Friday, but struggled to preserve its bullish momentum ahead of the US session. At time of writing, the pair was up 0.15% on the day at 0.7370.
AUD capitalizes on risk appetite
In the absence of major macroeconomic data releases, market risk perception remained the main driver for the major currencies. Backed by market optimism, reflected by gains seen in major Asian stock indices, the AUD gained strength against its rivals.
However, renewed concern over the UK and EU failing to reach a trade deal appears to be causing investors to become wary during European business hours. The sharp decline seen in GBP / USD after British Prime Minister Boris Johnson sounded pessimistic about the prospects for a deal helped the dollar stay resilient against its rivals. At time of writing, the US Dollar Index was virtually unchanged on the day at 91.99.
Meanwhile, S&P 500 futures were up 0.2% on the day, suggesting that major Wall Street indices could start the holiday-shortened trading day in positive territory. If risk appetite flows continue to control the markets in the second half of the day, AUD / USD could close the second consecutive week in green.
Technical levels
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