Disappointing US economic data prompts traders to bet on the Australian dollar and Euro rising against the US dollar.
According to the WiseFinance APP, in the recent period of poor performance in the US economic data, options traders are betting on currencies such as the Australian dollar and the Euro to rise against the US dollar. The Australian dollar is supported by the Reserve Bank of Australia's "cautious and gradual" easing policy stance and improved risk sentiment. The attractiveness of the Euro is based on expectations that increased defense spending will support the Eurozone economy and the European Central Bank's stance is becoming more hawkish. At the same time, the situation for the US dollar appears more severe, as data shows that US employment growth in July was below expectations, and data from previous months has also been revised downward.
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