- AUD/USD trades little changed even as Asian stocks track US equities higher.
- Dollar stays resilient amid the steepening of the US yield curve.
AUD/USD struggles to gather upside traction despite improving prospects for additional US fiscal stimulus and stock market gains.
The pair is currently trading largely unchanged on the day near 0.7118, having faced rejection at a one-week high of 0.7139 early Friday.
Risk-on
The US stocks charted gains on Thursday after the US House of Representatives Speaker Nancy Pelosi said officials were making progress in fiscal stimulus talks, and legislation could be hammered out “pretty soon.
Asian stocks are also tracking the US equities higher. Japan’s Nikkei index is up 0.3%, while the Shanghai Composite has so far added 0.15%. President Donald Trump said a coronavirus vaccine could be announced in a few weeks during the second presidential debate held an hour ago.
Even so, the anti-risk dollar is staying resilient. The continued steepening of the US treasury yield curve could be helping the US dollar stay resilient amid the risk-on action in the stock markets. The spread between the US 10- and two-year yields widened to over 80 basis points early today to reach the highest level in over four months.
Technical levels
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