The AUD/USD NZD session opened on the 1.0625 line and stabilized slightly in early trading down to the 1.0610 line. The exchange rate made an effort to rise in the afternoon and close at 1.0655 line.
There were no important data from Australia and China in the day. The exchange rate was mainly affected by the stock market and US data.
On Friday, Fed Chairman Ben Bernanke said at the annual meeting of the world's central banks that he was ready to provide further support to the continuingly weak US economy at any time, making market speculation that additional monetary stimulus measures might be introduced and that the dollar as a whole was under pressure and the stock market was fully up.
As of Monday's close, the three major European stock indexes all rose by about 2%. The three major US stock indexes rose by more than 2.2%. The sharp rise in the stock market effectively boosted the market risk appetite. The Australian dollar was well supported and the strength of the stock market continued for commodity currencies. With support provided, the AUD/USD therefore held steady above the 1.0600 level before consolidating before gains.
In early morning in New York, the monthly personal consumption expenditure in the United States rose by 0.8% in July, the largest increase since December 2009, and is expected to increase by 0.5%; the monthly personal income rose by 0.3% in July, and is expected to increase by 0.3%. Strong personal consumption expenditure data Boosted the risk sentiment in the market and pressured the US dollar. The Australian dollar/dollar was boosted by this increase again and reached a new high of 1.0645 for three weeks.
However, the U.S. July contracted sales index, which was subsequently announced, fell by 1.3% on the month, lower than the expected monthly drop of 0.8%. The weaker-than-expected data weighed on risk appetite. Affected by this, the Australian dollar/US dollar reversed its decline.
In addition, the RBA Governor Stevens said on Friday that he is unlikely to further reduce interest rates, providing support to the Australian dollar.
From the chart point of view, the exchange rate re-emerged on the trend line L1, and the exchange rate hit a three-week high, and the rally is rising in the short-term, and it is expected to further hit the highs.
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