The Aussie Dollar extended its losses against the Greenback during the North American session, dropping some 0.08% after hitting a daily high of 0.6493.
Aussie Dollar falls to 0.6452 after higher-than-expected US Retail Sales show strong consumer activity. Rising US Treasury yields suggest diminishing hopes for Federal Reserve rate cuts, shifting market expectations. Middle East tensions and forthcoming Chinese economic data will shape AUD/USD's short-term path. The AUD/USD trades at 0.6452 following the release of strong US Retail Sales data.
Chairman Carl Harris said, April’s flat reading suggests potential for demand growth is there, but buyers are hesitating until they can better gauge where interest rates are headed.” Risk appetite is significantly impacting the AUD/USD, courtesy of tensions arising in the Middle East. The recent offensive by Iran against Israel, which finished without casualties, has underscored the potential volatility in the region and its potential impact on the AUD/USD.
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