The AUD/USD pair gained slightly early Thursday as the US dollar fell against other majors, while the downside wave still dominate the pair’s movement since the RBA changed its monetary policy.
The dollar index (which measure the performance of the US dollar against a basket of six major currencies) dropped on Thursday after it reached its highest level since October 10.
The current sentiment in the financial market is still full of fears regarding the EU debt crisis and its negative effect on other banking systems around the globe, the sentiment which was confirmed after the credit agency Fitch warned the U.S. banking sector of possible downgrade for some banks.
On the other hand, the Aussie lost its momentum due to risk aversion which drove investors to abandon higher-yielding currencies in addition to the current dovish stance from the RBA.
On Friday, the United States will end the week at 15:00 GMT with the Leading Indicators for October which are expected to improve to 0.5% from 0.2%.
Originally posted here
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