The AUD is higher Tuesday, helped by stronger than expected domestic data, an unchanged policy decision from the RBA and a continuation of the global risk-on trade. AUD/USD was trading around $1.0250 as the Asian session kicked off, before drifting to a session low at $1.0230. The pair spiked higher on stronger than expected building approvals helped the pair rally to an initial high at $1.0275. Little into the RBA decision was followed by a further attempt higher, touching a session best $1.0285, before offers from $1.0290/95 capped gains. Failure to break above saw a slip back to $1.0255, before steadying to trade around $1.0270.
EasyForexNews Research Team