AUD gathers strength. Overview for 14.11.2023

The Australian dollar paired with the US dollar is consolidating after a decline. The current AUDUSD exchange rate stands at 0.6370.

In November, Australia's Consumer Confidence index dropped by 2.6 points compared to the previous 2.9 points. This leading indicator reflects consumer spending levels, illustrating countrywide economic activity parameters.

Australia's Business Confidence Index in October was -2 points, down from September's reading of 1 point. A value above zero signals improving market sentiments, while a value below zero indicates worsening market conditions.

Evidently, the sentiment situation, both in business and among consumers, remains quite mixed. On one hand, this is related to interest rate levels. The RBA has previously raised the rate and expressed its resolution to fight inflation. On the other hand, Australia's employment sector remains relatively stable, providing economic resilience.

Today's movements of the AUD will be largely influenced by US inflation data, with increased volatility expected in the afternoon.