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 continued to slide in the Asian session as the US dollar extended gains. Despite comments from RBA Governor Lowe, the currency failed to recover. Lowe indicated that the RBA is keeping an open mind and that further rate hikes are necessary. However, his remarks were drowned out by similarly hawkish comments from […]
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. […]
Market Analysis – January 16 AUDJPY market has ascended into a bearish confluence. A bearish trendline crossed the resistance level at 91.180 to form a confluence point for a selloff. AUDJPY Key Zones Resistance Zones: 91.180, 95.140, 98.230 Support Zones: 87.890, 85.920, 83.900 AUDJPY Long-term Trend The sellers gained control of the market after a […]
Last week, the Australian Dollar (AUD) surged higher as the US dollar buckled beneath the weight of the market’s expectations for a less aggressive Federal Reserve. The likelihood of China coming back online to assist the global economy caused risk asset sentiment to soar. Industrial metal prices increased, supporting the Australian dollar even more. Strong […]
The average daily range of the Australian dollar during the first week of the year was over 2% on each day with significant trade. After all the commotion, it ended the week with a 1% gain. The main external factors that contributed to the volatility looked to be Chinese policy, minutes from Federal Reserve 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 […]
