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 […]
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. […]
Tuesday’s holiday-weakened trading saw the Australian dollar (AUD) rise to about $0.675; China’s announcement that it will abolish quarantine rules for incoming tourists beginning on January 8 symbolized the end of its “zero-Covid” policy and boosted market sentiment. Australian Dollar Comes On Top The resumption of China’s outward visa issuance on January 8 made the […]
Last week, the Australian Dollar (AUD) suffered as a result of the US Dollar’s (USD) spectacular surge in response to growing recessionary concerns. Last Wednesday, the Federal Reserve raised its target range by 50 basis points to 4.25%–4.50%. Despite a slightly softer US CPI the day before, the shift was generally predicted. Despite a 64K […]
The September employment report for Australia, which was released earlier today, showed that the job market in the country remains strong. Reports show that 13,300 new full-time employments were created by the economy, while 12,400 part-time ones were lost. This comes after an excellent 55,000 job growth in August. Inflation has increased as a result […]
The Australian dollar recorded a mild uptick in the London session on Tuesday following comments from Reserve Bank of Australia (RBA) Governor Philip Lowe hinted at more rate hikes. However, persisting fears of a crawling global growth and worsening inflation limited gains for the Aussie. Currency investors remain doggedly focused on central bank statements and […]
In its recently concluded policy meeting, the Reserve Bank of Australia (RBA) decided to leave its interest rates unchanged at 0.1%. The bank also mentioned the rising inflation and noted that the trend could continue in the mid-term as unemployment dropped to a worse-than-expected 4%. RBA Governor Philip Lowe noted in the statement: “Over coming […]
