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AUD/USD holds above 0.6930 as US dollar slips
AUD/USD is trading near 0.6940 after US initial jobless claims fell to 215K, below the 218K estimate, while the US Dollar Index slipped for a second straight session.
FXStreet reports AUD/USD is edging higher around the 0.6940 area on Thursday, supported by a softer US dollar even after US initial jobless claims came in stronger than expected.
The outlet says jobless claims fell to 215K, below the 218K forecast and the prior reading of 217K, indicating layoffs remain limited, but the broader US Dollar Index, or DXY, failed to gain traction.
FXStreet also links the Aussie’s move to China data and global risk sentiment, noting China’s producer price inflation rose 4.1% year over year in June, its fastest pace in four years, while China’s consumer price inflation slowed to 1% year over year.
On the technical side, the pair is quoted around 0.6939, hovering near the 100-period simple moving average and holding above the 20-period SMA near 0.6937, with a resistance band around 0.6940 to 0.6946 and support near 0.6932.
Latest closeDollar index 100.99 ▼0.1%