Send Weekly Currency Update 22nd July 2024

In The News 🌏 – Market Conditions and what to look out for this week 🗓️.

AUD/USD

• US President Joe Biden's exit from the presidential race increased the odds for former President Donald Trump and boosted investors' appetite for riskier assets.

• Experts argued that Biden’s decision would increase market volatility, though the market reaction has been limited so far.

• Peter Earle, senior economist at the American Institute for Economic Research, stated that investors may seek a safe haven until they can assess Biden’s replacement policies.

• Dovish Fed expectations prompted fresh US Dollar selling.

• Pairs where AUD is the weaker currency, such as EURAUD and GBPAUD, are now in focus.