The Aussie dollar continues to make its way higher against the U.S. dollar on continued U.S. weakness, taunting the 0.65 level but not quite making it. The dollar fell against all of the G10 countries on weaker economic data out of the U.S. U.S. Consumer Confidence Index dropped significantly to 106.1 in August after an expected 116 forecast. U.S. housing prices also fell to 0.3% in June from a 0.7% previously reported. The US JOLTS job openings index fell to 9.49m from 9.58m the previous month.
The Reserve Bank of Australia Governor-Designate Bullock’s comments also helped the market as she expressed that high inflation will be one of her priorities as well as hoping to raise interest rates. Australia’s CPI is expected to ease slightly to 5.2% from 5.4% previously.
