Forex News

The Australian dollar rose against its main competitors

The Australian dollar rose against its main rivals in the Asian session on Friday, as Asian stocks rose. Investor sentiment rose amid positive Federal Reserve forecasts for the US economy in addition to optimistic US economic data.

Federal Reserve Chairman Jerome Powell said the US economy is unlikely to weaken in the next two years.

Investors are waiting for reports on personal income and expenditure in the US, business activity in the Chicago area and consumer sentiment later on the same day to determine the direction.

The price of oil continued to rise and intends to show the s a long weekly growth in four months, as investors expected a decrease in supply after the introduction of new US sanctions against Iran, a major oil exporter, which will take effect in November.

The Australian dollar rose to 2-day highs of 1.0922 against the New Zealand dollar and 82 , 00 against the yen from the early lows of 1.0885 and 81.64, respectively. Australians see resistance around 1.11 against kiwi and 83.00 against yen.

The Australian dollar rose to 0.7224 against the US dollar and 0.9408 against the Canadian dollar, reversing its early 10-day low of 0.7202 and a 2-day low of 0, 9385 respectively. The next possible resistance for the Australian dollar is observed in the area of ​​0.74 against the US dollar and 0.95 against the dollar of Canada.

The Australian dollar rose to a weekly high of 1.6112 against the euro from a low of 1.6158, observed at 12:45 on the east time. The Australian dollar will meet resistance in the area of ​​1.58.

The unemployment rate in Germany for September, data on US GDP for the second quarter and consumer inflation in the euro area for September will be published at the European session.

New York session will be released the price index for industrial goods in Canada for August and data on GDP for July, as well as data on personal income and expenditure in the US in August, as well as the final consumer sentiment index in August from the University of Michigan.

At 9:20 am Eastern time Deputy Governor of the Bank of England David Ramsden will speak at the Annual Conference of the Society of Professional Economists in London.