AUD Achieves Weekly High: Overview for November 15, 2023

<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/AUDUSD_6-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="AUD/USD analysis today" decoding="async" style="margin-bottom: 15px;" loading="lazy" /></div><p>The <a href="https://roboforex.com/beginners/info/charts/forex/audusd/" data-internallinksmanager029f6b8e52c="33" title="AUD/USD">AUD/USD</a> pair has made significant gains driven by external factors.</p>

<p>The Australian dollar exhibited a steady rise against the US dollar by Wednesday, with the current AUD/USD exchange rate reaching 0.6500.</p>

<p>This upward <a href="https://blog.roboforex.com/blog/2019/11/12/momentum-efficient-oscillator-or-trend-indicator/" data-internallinksmanager029f6b8e52c="96" title="Momentum">momentum</a> was primarily propelled by the weakening of the US dollar in the global currency market following the release of the October <a href="https://blog.roboforex.com/blog/2022/06/30/what-is-inflation-reasons-and-consequences/" data-internallinksmanager029f6b8e52c="220" title="Inflation">inflation</a> report.</p>

<p>China's release of economic statistics this morning further contributed to the positive trend of the AUD. Retail sales in China witnessed a 7.6% year-on-year increase, and industrial production expanded by 4.6% year-on-year. The only deviation in the overall data was the decline in investment in fixed assets from 3.1% year-on-year to 2.9% year-on-year.</p>

<p>The robust data from China bodes well for the AUD, given Beijing's status as Australia's primary trade and economic <a href="https://blog.roboforex.com/blog/2021/07/30/how-to-become-a-successful-partner-of-a-forex-broker/" data-internallinksmanager029f6b8e52c="194" title="Partner">partner</a>.</p>

<p>The reports from China also set a positive tone for the market's risk asset sector.</p>

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