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Aussie rally pauses before key inflation data release

The Australian dollar took a breather, holding steady after retreating from its 2024 high. This pause comes as traders await the release of domestic inflation data, which is expected to have a notable impact on the currency’s direction. The uncertainty surrounding this data has created a cautious atmosphere in the market, leading to a halt in the Aussie’s recent rally. The Australian dollar recently experienced a decline. This dip is closely tied to the U.S. dollar’s rebound from its eight-month lows, as traders adjusted their positions ahead of key global events. Read more to find out why Australian dollar dipping here.

why Australian dollar dipping

Disclaimer:

As traders and analysts await the inflation data, Australian retail sales figures will also be under scrutiny. These figures will provide further insights into consumer spending patterns, especially in the context of inflation and economic uncertainty. Risk management is advised to complement these releases closely for further indications of market trends.

Publication date:

2024-09-02 16:58:00 (GMT)

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