The Australian Dollar thanks Waller's comments, which sink the USD
The Australian Dollar rises against the US Dollar on Thursday as Fed Governor Waller turns moderately dovish ahead of the September meeting, even as Oil prices rise due to a resumption of hostilities in the Middle East. The AUD/USD trades at 0.7200, up 0.44%.
On Thursday, the Australian Dollar gained strength against the US Dollar as Federal Reserve Governor Waller expressed a more dovish outlook ahead of the September meeting. This shift in sentiment, along with rising oil prices caused by renewed conflicts in the Middle East, drove the AUD/USD pair to 0.7200, marking a 0.44% increase.
Despite the US Dollar's continued decline, Waller's comments helped strengthen the AUD, with traders focusing on the upcoming US Nonfarm Payrolls and Unemployment Rate releases. In Australia, market sentiment was buoyed by the positive global mood and the US Dollar's decline. The AUD/USD pair maintained a bullish outlook as it stayed above key support levels, with traders watching for a sustained break above a descending resistance trend line to fuel further gains.
Meanwhile, the US Dollar Index (DXY) fell 0.58% to 99.00, reflecting the broader weakness in the Greenback.
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