AUD / USD stabilizes around 0.7550, seems to close the third day in a row lower

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  • AUD / USD fell to its lowest level since early April on Thursday.
  • The US dollar index remains close to 92.00.
  • Market participants largely ignored the uninspiring US data releases.

The pair AUD/USD it extended its slide after posting heavy losses on Wednesday and fell to its lowest level since April 1 at 0.7539 on Thursday before entering a consolidation phase. At time of writing, the pair traded 0.7557, shedding 0.7% on the day.

DXY rises to multi-month highs

The constant strength of the USD remained the main theme of the market after the radical change observed in the updated FOMC Forecast Summary, the so-called dot plot. The post revealed that the number of policymakers who see the federal funds rate take off from zero in 2023 rose to 13 from seven in March.

Following Wednesday’s 1% jump, the US Dollar Index (DXY) retained its bullish momentum and advanced to its strongest level in more than two months at 92.00 during US trading hours on Thursday. At time of writing, the DXY was up 0.5% on the day at 91.84.

Meanwhile, US data revealed that initial jobless claims rose to 412,000 from 375,000 and the Philadelphia Fed manufacturing index fell to 30.7 in June from 31.5 in May. However, these figures had little or no impact on the performance of the dollar against its rivals.

On the other hand, the Australian Bureau of Statistics announced earlier in the day that the Job Change in Australia jumped to +115,200 in May, beating the market expectation of +30.00 by a wide margin. However, the positive AUD / USD reaction to this data remained short-lived and investors remained focused on the USD valuation.

Technical levels

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