Fundamental analysis
27 April, 2022
During most of the European trade, the Australian dollar strengthened further against the US dollar after a big drop from yesterday. The US currency is still in a strong rush due to the commitment of Fed officials to accelerate the tightening of monetary policy. Hawkish comments of the creators of the monetary policy in the USA, including the chairman Jerome Powell, give strength to the American dollar, and before the regular meeting of the Fed on May 4. However, Australia is quite far from the European war, so in the context of the weakening euro and pound, but also the yen, a solid alternative remains Aussie, which is supported by rising metal prices (since Australia is a major producer of copper, lithium and other rare metals). At around 13:00, the Australian dollar was exchanged for 0.7151 US dollars, which represents a strengthening of the Aussie by 0.16% since the close of trading on Friday.
