US Dollar Index fails to hold above 100 ahead of American session. Upbeat market mood helps pair limit its losses. Markets ignore disappointing GDP and Retail Sales data from China. The AUD/USD pair ignored the dismal macroeconomic data releases from China on Friday and gained traction during the Asian session. Boosted by the upbeat market mood on hopes of major economies slowly reopening, the AUD/USD pair rose to a daily high of 0.6383. Although the pair staged a technical correction and returned to 0.6320 area, the USD struggled to preserve its strength ahead of the American session and allowed the pair to gain traction. As of writing, the pair was up 0.65% on the day at 0.6370. Reflecting the risk-on atmosphere, major Asian equity indexes closed the week on strong footing and European stocks are posting strong gains with Germany’s DAX leading the way with a 3.7% increase on the day. USD weakens on Friday The US Dollar Index, which advanced to 100.30 earlier in the day, was last seen down 0.13% on the day at 99.80 to help the pair preserve its bullish momentum. The only data release that could have an impact on the market sentiment on Friday will be the Conference Board’s Leading Economic Index. Meanwhile, Wall Street’s main indexes remain on track to open higher with US stock index futures adding around 2% on a daily basis. If risk rally picks up steam in the second half of the day, the pair could continue to push higher to post gains for the second straight week. Technical levels to watch for FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Fed’s Williams: Don’t see economy being back to full strength by end of year FX Street 2 years US Dollar Index fails to hold above 100 ahead of American session. Upbeat market mood helps pair limit its losses. Markets ignore disappointing GDP and Retail Sales data from China. The AUD/USD pair ignored the dismal macroeconomic data releases from China on Friday and gained traction during the Asian session. Boosted by the upbeat market mood on hopes of major economies slowly reopening, the AUD/USD pair rose to a daily high of 0.6383. Although the pair staged a technical correction and returned to 0.6320 area, the USD struggled to preserve its strength ahead of the American session and allowed the… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
