Aussie extends gains in a risk-on environment and could approach the 0.7300 threshold AUD AUDUSD $AUD $AUDUSD
Australia will publish the Q1 Gross Domestic Product on Wednesday.The AUD/USD pair flirts with the 0.7200 level ahead of the Asian opening, trading at its highest in four weeks. Thebenefited from the better tone of Asian and European stocks markets, as most indexes closed in the green. Meanwhile, investors kept dumping the greenback following soft US data released last week.
Australia will release April Building Permits, Q1 Company Gross Operating Profits and the Current Account Balance for the same quarter early on Tuesday. Later in the week, the country will publish the Q1 Gross Domestic Product, foreseen up a modest 0.7%, down from 3.4% in the final quarter of 2021.The AUD/USD pair is up for a third consecutive day, extending gains above the 61.8% retracement of the 0.7265/0.6828 decline at 0.7096.
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