Aussie stands still, Kiwi gains
On Tuesday, the Australian dollar went flat against its US counterpart, while the New Zealand dollar managed to derive gains from surging oil and upcoming US data.
The currency pair AUD/USD seems to have stuck to the level of 0.7719.
On Tuesday, crude prices rebounded due to a weaker American dollar, but revenues were expected to remain quite limited because Iran, Saudi Arabia and Kuwait announced their production increases, thus contributing to anxiety over global oversupply.
As for NZD/USD, this currency pair acquired 0.45% at 0.6886.
Sentiment on the US dollar was quite vulnerable, because market participants waited for the Fed’s new policy gathering for further hints on the timing and pace of future rate increases.
Apart from that, traders were also concerned with the issue of American data on durable goods orders as well as consumer confidence for further signs on the strength of the economy.
The US dollar index, determining the greenback’s strength against six key currencies, stood still at 94.67.