The AUD/USD pair is set to face a volatile week ahead, according to analysts at FOREX.com. The Australian dollar has been trading within a narrow range against the US dollar, but this is expected to change in the coming days.
The Australian dollar has been supported by positive economic data from Australia, including strong employment figures and rising commodity prices. However, concerns about the ongoing trade war between the US and China are weighing on the currency.
The US dollar, on the other hand, has been supported by safe-haven demand as investors flee riskier assets. The Federal Reserve’s recent interest rate cut has also boosted the greenback.
Looking ahead, traders will be watching for any developments in the trade war, as well as key economic data releases from both Australia and the US. Any surprises in these data points could lead to sharp movements in the AUD/USD pair.
Overall, the outlook for the AUD/USD pair remains uncertain, with analysts at FOREX.com advising traders to be cautious and monitor market developments closely.