News and Market Analysis

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AUD/USD

The pair continued to rise hitting a new weekly high of 0.6679, but pulled back to 0.6600. Australia released the Q1 Construction Work Done, bringing in better than expected printing at -1.0%.

As the Aussie is a heavily linked to commidity prices, Golds drop below 1,700 level impacted the currency and will continue to add pressure should things not improve in the safe haven metal.