Australian Dollar holds gains as US Dollar remains weaker, Q1 GDP Annualized eyed
The Australian Dollar (AUD) advances against the US Dollar (USD) on Thursday, continuing its winning streak for the fourth consecutive day. The AUD/USD pair remains stronger amid improving risk appetite, driven by a fragile US-brokered Israel-Iran ceasefire. Traders will likely focus on the developments surrounding US-Iran talks and Middle East conflicts.
US President Donald Trump noted that theUnited States(US) and Iran would hold a meeting next week but questioned the need for a diplomatic solution on Iran's nuclear program, citing the damage that American bombing had done to key sites, per Bloomberg.
Australian Bureau of Statistics (ABS) reported vacancies rose by 2.9% in the three months to May, partly recovering from a 4.3% decline in the previous quarter ended February. Australia’s labor demand remained resilient despite a soft economy as job vacancies rebounded in the May quarter, driven by openings in the construction and professional sectors. However, job openings stood at 339,400 in May, down 2.8% from a year earlier, the smallest annual decline in the past two years.
Australia’s softer inflation data, along with recent weaker-than-expected GDP figures, reinforces expectations of the Reserve Bank of Australia’s (RBA) 25 basis point rate cut in July. Traders are also expecting a total of 73 bps interest rate cuts by the end of the year.
Australian Dollar appreciates as US Dollar struggles amid a cautious tone from Fed Chair Powell
Australian Dollar holds position above 0.6500 support near nine-day EMA
AUD/USD is trading around 0.6510 on Thursday. The technical analysis of the daily suggests a persistent bullish bias as the pair remains within the ascending channel pattern. The 14-day Relative Strength Index (RSI) is positioned above the 50 mark. Additionally, the pair stays above the nine-day Exponential Moving Average (EMA), indicating that short-term price momentum is stronger.
On the upside, the AUD/USD pair may target the seven-month high of 0.6552, which was recorded on June 16, followed by the ascending channel’s upper boundary around 0.6570.
The immediate support appears at the nine-day EMA of 0.6494. A break below this level would weaken the short-term price momentum and put downward pressure on the AUD/USD pair to test the lower boundary of the ascending channel around 0.6460, aligned with the 50-day EMA at 0.6442.
AUD/USD: Daily Chart
Australian Dollar PRICE Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the strongest against the US Dollar.
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
Economic Indicator
Gross Domestic Product Annualized
The real Gross Domestic Product (GDP) Annualized, released quarterly by theUS Bureau of Economic Analysis, measures the value of the final goods and services produced in the United States in a given period of time. Changes in GDP are the most popular indicator of the nation’s overall economic health. The data is expressed at an annualized rate, which means that the rate has been adjusted to reflect the amount GDP would have changed over a year’s time, had it continued to grow at that specific rate. Generally speaking, a high reading is seen as bullish for the US Dollar (USD), while a low reading is seen as bearish.
Next release:Thu Jun 26, 2025 12:30
Frequency:Quarterly
Consensus:-0.2%
Previous:-0.2%
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