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Insight
December 1, 2017
AUD/USD Annotated Chart: November 2017
The month that was for the AUD. The key events in November 2017 that impacted the AUD/USD.
Overview:
- The AUD/USD traded in a 2 cents range during November and ended the month lower than where it started.
- The monthly high of 0.7728 was reached on the 3rd day of the month and the low of 0.7533 on the 21st.
- The currency range-traded in the first 10 days of November with a soft Australian retail sales report the highlight.
- Then despite the fact that the USD struggled to perform, the AUD/USD traded with a soft tone amid deterioration in risk sentiment and weaker domestic data.
- Later in the month the prospects of US tax reform was an additional factor that supported the USD.
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