Forex - AUD/USD little changed after Fed’s Bernanke
Investing.com
Published Jul 18, 2012 03:10AM ET
AUD/USD hit 1.0289 during late Asian trade, the session low; the pair subsequently consolidated at 1.0310, dipping 0.05%.
The pair was likely to find support at 1.0234, Tuesday’s low and near-term resistance at 1.0238, the high of July 5 and a two-month high.
In testimony on the economy and monetary policy to the Senate Banking Committee on Tuesday, Bernanke said growth had lost momentum in the first half of the year and added that progress on cutting the U.S. unemployment rate was “frustratingly” slow.
However, he refrained from indicating whether the Fed would embark on a third round of quantitative easing to stimulate the economy, but reiterated that the central bank was prepared to take further action to support the economic recovery if necessary.
The Aussie was higher against its New Zealand cousin, with AUD/NZD up 0.22% to 1.2949 but slipped lower against the yen, with AUD/JPY down 0.12% to 81.45.
Later Wednesday, Ben Bernanke was to testify in front of the House Financial Services Committee. In addition, the U.S. was to publish official data on building permits and housing starts.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.