AUD/USD Jumps Above 0.714 as Trump Signals Near US-Iran Deal
Updated
Updated · MarketPulse · May 20
AUD/USD Jumps Above 0.714 as Trump Signals Near US-Iran Deal
5 articles · Updated · MarketPulse · May 20
AUD/USD extended its rebound above 0.714, with the pair up more than 600 pips from its 50-day moving average as the US Dollar weakened.
Trump’s statement that a US-Iran diplomatic deal is close eased war and inflation fears, pushed oil prices lower and lifted risk appetite—factors that favor the oil-importing Australian economy.
Attention now turns to Australia’s jobs report, where markets expect 17.5K new positions after 17.9K previously; a softer reading could check the Aussie’s recent advance.
Traders are watching 0.7175 as the next breakout level and 0.7090 as near-term support, with price action consolidating ahead of the overnight data.
With the Aussie dollar soaring, will tonight's jobs report give the RBA the green light to pause its rate hikes?
What undisclosed terms in the US-Iran deal could unravel market stability and send oil prices soaring once more?
As China brokers a historic US-Iran deal, is this the dawn of a new era in global diplomacy led from Beijing?