Will the rise in Oceania currencies continue?

Will the rise in Oceania currencies continue?

24.08.2021

Yesterday, the three major U.S. stock indices all rose, resulting in a market environment characterized by rising stock prices, stable interest rates, and higher oil prices. The Nasdaq hit a new all-time high for the first time in about two weeks. This appears to reflect heightened expectations for an economic recovery following the U.S. FDA’s full approval of the Pfizer vaccine. Meanwhile, BTC/USD, which had recovered to the key $50,000 level yesterday, has since fallen back to $49,000.

With the Jackson Hole Symposium this weekend and the U.S. employment report next weekend on the horizon, the foreign exchange market is in a wait-and-see mode, and the USD/JPY pair is trading within a very narrow range of 109.47 to 110.22.Meanwhile, Oceania currencies are showing strength, with the AUD/USD continuing its upward trend yesterday, rebounding from 0.710 to 0.721. It is currently attempting to break through its previous high.

Today, Germany’s second-quarter GDP (revised) is scheduled for release at 3:00 p.m. Asia time, followed by U.S. new home sales and the Richmond Fed Manufacturing Index at 11:00 p.m. U.S. time, a U.S. 2-year Treasury auction at 2:00 a.m., and New Zealand’s trade balance at 7:45 a.m. the following day.We will be closely monitoring whether the currencies of resource-rich nations, which are showing signs of an upward trend, will set the tone for today’s market.