AUDUSD Exchange Rate

The Australian dollar strengthened against other major currencies in the Asian session on Monday, as Asian stock markets traded higher, following the mixed cues from Wall Street on Friday, after recent economic data has generated optimism about an interest rate cut in the coming months, but comments from U.S. Fed officials have put a damper on some of the cheer. Announcement of fresh stimulus measures in China also boosted commodity prices.

The Australian dollar strengthened against other major currencies in the Asian session on Monday.

The U.S. dollar declined against its major counterparts in the New York session on Friday on growing expectations that the U.S. Federal Reserve could start cutting interest rates as early as September.

Suggesting softer economic conditions lay ahead, the Conference Board released a report on Friday showing a continued decrease by its reading on leading U.S. economic indicators in the month of April. The Conference Board said its leading economic index fell by 0.6 percent in April after dipping by 0.3 percent in March. Economists had expected the index to decrease by another 0.3 percent.

Oil gained 0.7%. The Australian dollar is overbought but unchanged. The Euro and Dollar-yen traded sideways; the Euro is overbought, and the Dollar-yen has a negative signal. China's gasoline exports hit a low. Japan's Nippon Steel VP will visit the US for a deal. Global stocks rose on potential Fed rate cuts.

The Dollar Index (DXY), a measure of the Greenback’s value against a basket of 6 major currencies, finished flat, at 104.50. Fed officials called for caution before moving to cut interest rates despite signs of cooling inflation.

geopolitical issues in Eastern Europe and the Middle East have intensified, driving safe-haven gold prices to all-time high levels.

The Dollar Index (DXY), which weighs the value of the Greenback against a basket of 6 major currencies, rebounded to 104.50 from 104.30 despite mixed US economic data.