AUDUSD rallied, climbing from 0.7484 to 0.7521. The stalled US dollar rally and an uptick in commodity prices underpinned Aussie gains. Traders were looking ahead to the employment report due later today. NZDUSD rallied, dipped and finished unchanged from its opening level.
WTI oil prices reversed losses after yesterday’s API report of a 4.85 million barrel increase in US crude inventories when the Energy Information Administration (EIA) reported a 1.4 m/b decline in crude stocks.
Wall Street recovered from morning losses and closed with gains across the board as traders ignored the rise in Treasury yields.