AUDUSD has mainly oscillated between 0.6680 and 0.6580
The Aussie dollar lost ground in the week gone by. AUD/USD has mainly oscillated between 0.6680 and 0.6580 with prices testing the lower bound this week before lifting off it. Australian GDP is due next week as well, with estimates for Q1 suggesting a stagnant start to the year with 0% quarter-on-quarter growth. AUD/USD could continue to drift lower next week due to recent upward momentum in the US dollar and a complicated growth outlook for Australia.
Note
AUD/USD hit an 18-month high of 0.6942. China's brighter growth prospects act as the main driving force behind the strong recovery of commodity prices, serving as one of the premises that has helped AUD "stir up" the market recently.
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