- AUD / USD rose sharply early in the US session.
- The US dollar index lost its bullish momentum after US inflation data.
- The annual core CPI in the US fell to 4.3% in July, as expected.
After a consolidation phase around 0.7330 in the first half of the day, the pair AUD/USD it rose to a daily high of 0.7380 in the early hours of the US session. At time of writing, the pair was up 0.28% to 0.7370.
DXY retraces below 93.00 on Wednesday
The initial reaction to the US July inflation data helped the AUD / USD turn north by putting the dollar under modest selling pressure.
The US Bureau of Labor Statistics announced Wednesday that the Consumer Price Index (CPI) was unchanged at 5.4% on an annual basis. Furthermore, the core CPI, which excludes volatile food and energy prices, fell to 4.3% from 4.5% in June as expected. The US Dollar Index (DXY), which reached its highest level since early April at 93.19, was last seen losing 0.13% at 92.94.
Meanwhile, US equities futures rose 0.2% to 0.3% ahead of the opening bell, suggesting that the DXY could struggle to regain its traction should risk flows start to dominate the ones. markets.
Technical levels
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