AUD/USD

A kind of strongest performance was shown today by the Aussie, upholded by the commodity-based currencies that felt a good revival after oil stockpiles dropped last week.

WTI rallied 5.27%  to $37.77 during the US session. Meanwhile EIA reported a 4.9 million decrease in oil barrel inventories last week, rocking out the temple of the hope that the global supply glut is melting away.

Brent was trilled as well and as long as it felt the beat of the news, was trading 5.04% higher to $39.78. Currencies connected to commodities couldn’t run out from this support, including the Aussie.

AUD/USD rebounded on the improved sentiment and rose 0.89% to $0.7608 today and hit an intraday high of $0.7619, which is its strongest level since RBA tried to break down the walls of the self confidence of the currency earlier this week.