The Aussie continues falling. Overview for 26.11.2021
Market players continue selling AUDUSD; 3-month lows are quite close.
The Australian Dollar is looking rather weak against the USD. The current quote for the instrument is 0.7148.
Today’s statistics showed that the Retail Sales in Australia added 4.9% m/m In October after expanding by 1.3% m/m in September and against the expected reading of +2.2% m/m.
One of the reasons for that might be the deferred demand effect, because Australia removed all remaining quarantine restrictions. Another factor is the population started buying presents in anticipation of Christmas.
One way or another, this strong data “smoothed” the Aussie’s decline a little bit. Strategically, the Aussie rate dropped pretty much in recent weeks.
Nevertheless, the key sentiment of today’s trading session is a global escape from risks, which implies a higher demand for “safe haven” assets. In this light, the USD strength can’t be ignored.
After the world learned about a new aggressive COVID-19 strain in the Republic of South Africa, investors are trying to escape the risks and increasing their interest in “safe haven” assets.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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