S&P 5007,785.76▼0.2% Nasdaq26,729.16▼0.3% Dow53,732.41▼0.2% Russell 2K3,068.42▲0.5% 10-Yr4.70%+6bp VIX14.25−0.38 WTI$82.40▲1.4% Gold$4,432.00▲1.6% EUR/USD1.157▲0.4% BTC$79,050▲0.1% Nikkei68,309▲1.2%
At close · Fri, Aug 14, 2026
Daily Market Updates.

Forex

HomeForexMajor PairsAustralian dollar climbs to seven-week high above 0.70…

Australian dollar climbs to seven-week high above 0.7050

The rally comes after July inflation came in softer than expected, with most banks now converging on a hold on 11 August.

The Australian dollar rose to just above 0.7050, its highest level in seven weeks, and stayed above the 50-day exponential moving average near 0.7000 for the first time since mid-June, according to FXStreet.

FXStreet said the technical picture is shifting from a downtrend to a base, with the 200-day EMA near 0.6900 continuing to rise. The move was also described as narrow, with a roughly 25 pip daily range, and momentum indicators rolling over, as the daily Stoch RSI fell from the high 80s to the mid-70s.

The outlet attributed the strength less to Australian-specific rate expectations and more to broader currency dynamics, noting the advance unfolded during a period when Australia’s own interest rate case was being weakened. It cited a July inflation print of 3.8% headline and 3.6% in the trimmed mean, both softer than expected, and said banks have since converged on holding the cash rate at the board announcement at 04:30 GMT on 11 August.

FXStreet added that revised July activity data also helped, pointing to an improvement in the composite PMI to 53.2, services at a six-month high, and manufacturing returning to expansion, alongside household spending that beat. The piece framed the currency’s behavior as trading more like a high-beta expression of a weakening greenback than a direct bet on Australian yields, even as Australia’s cash rate remains above the US upper bound, 4.35% versus 3.75%.

More like this

Sources

Get the close, explained.

One email every trading day: what moved, why it moved, and what's on deck tomorrow. Read in 3 minutes.

Free. Unsubscribe anytime.