- AUD / USD gained traction ahead of the US session.
- The bullish market mood helps the AUD gain strength on Friday.
- The US Dollar Index is unchanged on the day near 93.30.
After spending most of the day fluctuating in a relatively narrow range below 0.7300, the pair AUD/USD It started to rise and touched a daily high of 0.7316. At time of writing, the pair was up 0.35% on the day at 0.7312. On a weekly basis, AUD / USD remains on track to close modestly higher.
Coronavirus vaccine holders remain optimistic
The positive change observed in the market mood during the European session appears to be helping the AUD to gain traction. Pfizer and BioNTech announced Friday that they will seek emergency use authorization for their coronavirus vaccine from the U.S. Food and Drug Administration (FDA) on Friday. In addition, the companies indicated that they have the vaccines ready for delivery within hours of receiving approval.
Reflecting the risky environment in the market, major European stock indices were up around 0.5% on the day and S&P 500 futures, which fell as much as 0.4% earlier in the day, are flat.
On the other hand, the US Dollar Index turned down and stabilized near 92.30 after climbing above 92.40 earlier in the day and allowed the AUD / USD bullish momentum to remain intact.
No US macroeconomic data will be released for the remainder of the day and risk perception is likely to remain the main driver of the AUD / USD movements. If the major Wall Street indices manage to hold firm before the weekend, the dollar could continue to weaken against its rivals.
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