AUD Declines After Positive Momentum
Published on: Oct 09, 2023|1 min read
**London: 9 October 2023 (TraderMade):** The Australian Dollar experienced a surge last Friday. However, the AUD/USD exchange rate dropped from 0.6370 to 0.6353.
## Reasons behind the surge The most significant economic factors causing a steep surge in Australian Dollars are: Hike in energy and gold prices US Non-farm payrolls Trade tensions between China and Taiwan affect commodities prices. Ongoing conflict in the Middle East keeps commodity prices stable.
However, as the new trading week starts today, we can see a slight decline in the AUD/USD rate. The US Dollar and USD Index strengthened after the job data release, affecting the exchange rate.
