Global equities stabilized on Tuesday, while the yen weakened beyond 150 against the dollar following the Bank of Japan‘s decision to end eight years of negative interest rates, meeting market expectations. This event is likely the highlight of a busy week for central banks. Investors are now shifting their attention to the U.S. Federal Reserve’s […]
In early Thursday trading, most Asian shares were on the rise following Wall Street’s partial recovery. Japan’s Nikkei 225 initially reached a record high before retreating slightly to 39,794.13, a decrease of 0.7%. Meanwhile, Australia’s S&P/ASX 200 edged up by nearly 0.1% to 7,740.80. South Korea’s Kospi saw a 0.5% increase to 2,654.45. Hong Kong’s […]
The Australian Dollar (AUD) has taken a hit against the US Dollar (USD) following the Reserve Bank of Australia’s (RBA) decision to maintain its cash rate at 4.10%, as widely anticipated by market experts. Governor Philip Lowe, who is set to retire in just two weeks, presided over this critical monetary policy decision. Lowe’s statement […]
The Australian dollar had a reason to smile on Thursday as it climbed higher against the US dollar. Data showed that the Australian labor market remained tight, something that could result in higher inflation for a longer period. The unemployment rate stayed low at 3.5% in March, beating the 3.6% expected by economists. This was […]
The Australian dollar (AUD) has been in the news lately as investors watch for signs of movement in the Chinese economy. You see, China is a big importer of Australian commodities, which makes the AUD particularly sensitive to economic data coming out of the country. Earlier today, the AUD was looking to the economic calendar […]
The Australian dollar (AUD) saw a brief increase after the Reserve Bank of Australia (RBA) raised its cash rate target to 3.35% from 3.10%. This hike, which took place on February 7, 2023, marked the 325th basis point increase since the first hike in May 2022. However, the Australian dollar has since retraced most of […]
As the US dollar remains under pressure globally, the Australian dollar is heading toward the five-month high reached last week at 0.7063. Recent remarks from Federal Reserve officials indicate that they currently believe increases of 25 basis points (bp) will be the proper rate of tightening at the Federal Open Market Committee’s (FOMC) next meetings. […]
After the release of critical economic data in the United States, which, while encouraging, failed to support the USD, the Australian Dollar (AUD) rose versus the greenback. In addition, a services PMI survey fell into a contractionary zone, escalating fears of a US recession. The AUD/USD pair currently trades at 0.6863 at the time of […]
