Australian dollar rises as gold gains continue

2019-07-11 16:57:02 GMT (Economies.com)
Australian dollar rises as gold gains continue

Aussie dollar rose against the greenback today, supported by the continued gains of gold as well as pressure on the US currency as a result of market's speculations of a rate cut by the Federal Reserve.

 

In his testimony before the Senate Banking Committee, the Federal Reserve Chairman stressed the existence of risks surrounding the US economy, most notably trade disputes.

 

President Donald Trump said China disappointed our hope after it failed to commit to the agreed purchases of US agricultural products.

 

Government data showed Australia's inflation forecast fell by 3.2%, and the rate of household loans stabilized unchanged from last month.

 

In the precious metal market, by 16:04 GMT, gold futures (August delivery) rose by 0.1% to $1414.6 per ounce, and recorded a high of $1429.4 and a low of $1410.3.

 

In terms of trade, by 16:15 GMT, AUD/USD rose by 0.2% to 0.6978, with a high of 0.6899 and a low of 0.6953.

 
 
 
  Symbol Last Change Chg.%
1.1035
0.0002
0.0168%
1.2579
-0.0058
0.4554%
17.580
0.050
0.284%
54.265
-0.547
0.999%
59.98
-0.51
0.84%
1490.500
3.315
0.223%
 
 
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