AUD/USD Benefits From Sliding Dollar

The US Dollar falls across the board on Thursday, amid positive risk appetite. The AUD/USD pair strengthens after breaking 0.6750, trims weekly losses. US Initial Jobless Claims rise to 230K and Continuing Claims hit fresh monthly highs.

The US dollar’s decline boosted the AUD/USD pair that broke above 0.6745. It hit three-day highs at 0.6769 following US economic data and then pulled back to 0.6755/60.

The US Dollar is falling modestly while commodity currencies are rising strongly. Gold, silver and crude oil are all up. The DXY is down just 0.05% at 105.10. US Treasury yields hold steady, marginally higher.

Regarding economic data, US Initial Jobless Claims rose as expected to 230K in the week ended December 3 while Continuing Claims increased by 62K to 1.671 million in the week ended November 26, above the 1.575 million of market consensus, hitting the highest level since early February.

On Friday, China will report the Consumer Price Index for November which is expected to show an increase of 1.5% (annual).