The overall positive market sentiment helped the Aussie rally versus the safe haven Greenback yesterday. AUD/USD began the day at 1.0243 and closed the U.S. trading session 34 pips higher at 1.0278.
No major data was released yesterday, but the Aussie still managed to rally due to leftover optimism from the day before. If you recall, the country’s retail sales report came in much better than expected and the RBA decided to keep rates unchanged. The Aussie was also positively affected by the good result of the bond auction in Spain.
Australia’s cupboard will be empty again today, but I still think we’ll still see a lot of movement. The U.S. non-farm payrolls will be released, and it could indirectly affect the Aussie’s price action.
Timber! The Australian dollar tumbled against the Greenback during last Friday’s New York session as AUD/USD moved closer to the 1.0200 major psychological support. Will this level still hold this week or is the Aussie in for a breakdown?
Better than expected U.S. NFP data boosted the U.S. dollar against the Aussie last Friday despite stronger than expected Chinese data. China’s trade balance posted a 15.3 billion USD surplus instead of the projected 8.8 billion USD deficit for March as exports surged during the month.
Over the weekend, the Asian giant, which is Australia’s largest trading buddy, also posted a couple of stronger than expected figures. China’s CPI came in at 3.2%, higher than the estimated 3.0% annual reading, while fixed asset investment jumped by 21.2%. However, both industrial production and retail sales missed expectations and this could weigh on Australia’s commodity exports to China.
This week, the only major report due from the Land Down Under is its jobs report, which will be released on Thursday. Prior to that, only medium-tier reports such as NAB business confidence, Westpac consumer sentiment, and Australian home loans are due. Stay on your toes!
That’s how you stage a comeback, baby! After starting the week by gapping down 29 pips to 1.0207, AUD/USD spent the rest of the day clawing its way back up the charts. When all was said and done, it finished 65 pips above its opening price at 1.0272.
The Aussie shrugged off weak Chinese industrial production and retail sales data, which makes yesterday’s rally all the more impressive. But the question is, “is its climb sustainable?”
It seems like the answer to that question will depend on risk sentiment, as we won’t be getting any major reports from Australia and the U.S. today. So for now, I suggest you monitor the markets closely, even checking on equities and commodities (gold in particular) to get a better feel for the overall risk environment. Good luck, homies!
Who needs economic data when interest rate speculations can boost the Aussie just fine? Despite the weak data from Australia, AUD/USD managed to extend its win by another 52 pips. What’s up in the Land Down Under?
Certainly not its economic reports! Not only has Australia printed weak NAB business confidence and Westpac consumer confidence numbers but a couple of hours earlier it has also printed a dismal home loans report. The data showed a 1.5% decline for the month of January, which is way lower than the 0.2% uptick that many had expected.
No other reports from Australia today so keep your eyes peeled for other major reports that might affect the comdolls’ price action! I hear that the U.S. is about to print its retail sales numbers today. Stay tuned for that, will ya?
Like most currencies, the Aussie felt the wrath of the Greenback after the U.S. retail sales report sent AUD/USD lower. After trading as low as 1.0282, the pair settled at 1.0309 to post a 15-pip loss on the day.
The Aussie may have taken a hit from yesterday’s broad-based Greenback rally, but boy is it making up for it today! It’s off to an extremely strong start, thanks to the employment figures that were released earlier this morning.
According to the latest stats, a total of 71,500 jobs were added last month, which is over 7 times the expected number! In turn, this kept the unemployment rate at 5.4%, instead of rising to 5.5% as many had predicted. Furthermore, the participation rate also increased in February! Some analysts have already weighed in on the report, saying that it gives the RBA another good reason to hold off on further rate cuts.
Looking ahead, we don’t have any other Australian reports coming out this week, so it looks like you’ll have plenty of time to digest these employment numbers. Will it give AUD/USD momentum to counter the dollar’s advances? We’ll just have to wait and see!
Ah, there’s nothing like good data to get the Aussie surfin’ up the charts! Following the incredibly amazing jobs report for February, AUD/USD rose more than a hundred pips from its opening price of 1.0309. By the of the day, the pair was trading 69 pips higher at 1.0378.
Data showed that last month, there were 71,900 jobs added - the biggest job increase in more than a decade! Not only was the figure more than seven times higher than the 9,500 figure that markets were expecting, it also translated to a 0.1% drop in Australia’s unemployment rate to 5.3%.
There were rumors that the figure may have been subject to some statistical error during the London session. But the Aussie still extended its initial rally soon after.
Some analysts say that regardless of the report’s accuracy, it still indicates that the Australian economy is still resilient enough not to warrant may further easing from the RBA.
But I dunno if the excitement following Australia’s jobs report would carry on today. Just be sure to keep an ear out for updates regarding revisions to the data. Who knows, talks about it being inaccurate could send the Aussie lower in today’s trading.
What a huge gap to start the week! AUD/USD rallied on Friday to close above the 1.0400 major psychological level then kicked off this week by opening around 1.0350. What’s in store for the Aussie this week?
The freshly released new motor vehicle sales report showed a flat reading for February while the previous month’s figure was revised up from -2.4% to -2.2%. Since the most recent reading is better than the previous one, we could see the Australian dollar hold on to the 1.0350 handle or possibly close the weekend gap.
Later on today, a couple of RBA officials are set to deliver speeches and probably drop some hints on how the Australian central bank plans to manage monetary policy in the near term. Watch out for RBA Assistant Governor Debelle’s speech around 10:15 pm GMT and RBA Deputy Governor Lowe’s testimony at 10:50 pm GMT. Upbeat remarks from both central bank officials could keep the Aussie afloat for the day while pessimistic comments could drive it lower.
Make that another day in the green for the Aussie! Despite a poor start to the week, AUD/USD rallied hard yesterday, as it eventually made its way to Friday’s highs. By the end of the day, AUD/USD was trading at 1.0392, up 33 pips from its opening price.
Earlier today, the RBA meeting minutes were released and truth be told, it barely caused a ripple in the markets. The minutes revealed that the board acknowledged improvements in the global economy, although it did acknowledge that with inflation near the middle of the central bank’s target band, there would be room to cut rates if necessary.
No biggies heading our way, but make sure you pay attention during the New York session, as we’ve got some U.S. data headed our way. Good luck mates!
With risk aversion back in vogue, the Aussie was in for a wipeout in yesterday’s trading. AUD/USD traded lower after tapping an intraday high of 1.0406. By the New York session close, the pair had settled 21 pips below its opening price at 1.0371.
The RBA meeting minutes was neither bullish nor bearish for the comdoll as it didn’t present the market with any surprise. According to the report, the central bank has acknowledged that the global economy is improving but think that there’s still room for inflation to accommodate easing should the need arise.
There aren’t any top-tier reports due from Australia today. With that said, make sure you keep tabs on market sentiment as it could continue to dictate the Aussie’s price action. Remember that the currency usually rallies when risk appetite is up and doesn’t do so well when risk aversion is in play. Good luck!
Put another shrimp on the barbie because the Aussie just posted another positive day! It wasn’t the biggest of victories, but hey, a win is a win, right? AUD/USD ended 8 pips higher at 1.0379 after trading as high as 1.0406.
No reports from Australia yesterday, but even with reports and events in the U.S. and euro zone shaking things up for the markets, the AUD/USD still remained range-bound between 1.0400 and 1.0350. Hopefully, it’ll come to life today and we’ll see a breakout!
So far, the HSBC flash manufacturing PMI for China seems to be propping up the Aussie slightly early in the day, as it printed better-than-expected results. As you all know, the Aussie tends to gain from positive Chinese reports because of Australia’s strong trade ties with the Asian giant. But is this report enough to cause AUD/USD to break out of consolidation? You’ll just have to wait and see, fellas!
Breakout alert! AUD/USD finally broke above 1.0400 and made new intraweek highs yesterday after the positive Chinese data boosted appetite for the comdolls.
As I mentioned yesterday, China’s manufacturing PMI came in better-than-expected, which was positive for Australia since China is its largest trading partner. Of course, it also didn’t go unnoticed that Australia’s MI leading index as well as New Zealand’s GDP both printed to the upside.
Will the comdoll bulls continue their drive today? The Land Down Under isn’t scheduled to release any report today so be extra watchful on the possible market-moving events today. Check out our calendar if you wanna mark today’s events!
The Australian dollar managed to emerge victorious last Friday, thanks to the positive news that came out of the euro zone. Apparently, the Cyprus government has finally approved three new measures to secure a bailout, which helped support risk appetite. AUD/USD ended the U.S. trading session at 1.0445, slightly higher than its lowest level that day at 1.0421.
There’s only one red flag on Australia’s forex calendar this week. Tomorrow, at 4:45 am GMT, RBA Governor Glenn Stevens will be doing at the Australian Securities and Investments (ASIC) annual forum. If he drops clues about future monetary policy, we could see a big move in the Aussie. Keep tabs on that.
It was a good start to the week for the Aussie, as it slowly crawled up the charts. AUD/USD opened at 1.0439 and ended the day at 1.0463, marking a 24-pip gain on the day.
Will the Aussie continue to edge higher? You might wanna tune in at 4:45 am GMT, as RBA Governor Glenn Stevens will be speaking at the Australian Securities and Investments Commission forum. Stevens might drop some hints as to what the central bank plans to do, so if you’re trading the Aussie, you’d best be served by proceeding cautiously when he starts speaking.
The Australian dollar managed to clock in another victorious session yesterday. It gained for the fifth consecutive day versus the safe haven U.S. dollar, rising to 1.0486 from 1.0464.
No data was released from Australia, but the currency was able to get some bullish strength from the very positive New Zealand trade balance data. The report showed that there was a 414 million NZD trade surplus for the month of February, which was significantly higher than the 2 million NZD surplus the market had initially expected.
Australia’s economic cupboard is once again empty today, so I don’t expect any major moves from the Aussie. Even though we’ll likely see the currency continue its uptrend or simply move horizontally and hold previous day highs and lows, be careful of sudden sentiment shifts. If the Cyprus drama gets worse, the Aussie could be indirectly affected and sell-off.
Alas! The winning streak ends at five. Yesterday, the Aussie scored its first loss to the dollar since last week. AUD/USD finished the day lower at 1.0447 after opening at 1.0486.
Sure, risk aversion stemming from concerns about Cyprus was to blame. However, traders might have also found another reason to sell the Aussie following the remarks of RBA member Broadbent. She reportedly said that the currency’s strength is weighing on the economy but luckily, Australian corporations are adapting well to it.
No top-tier data is due to be released from Australia today. However, Cyprus is set to re-open its banks. Make sure you keep an ear out for updates from the country as they could dictate market sentiment and affect the Aussie’s price action. Remember that the currency usually does well when risk appetite is up, but doesn’t do so well when risk aversion is in play.
The last trading days of last week didn’t provide relief for the Aussie bulls as the high-yielding currency continued to weaken against the Greenback. AUD/USD fell by another 33 pips on Thursday and capped the week 28 pips lower than its open price.
Australia was on bank holidays last Thursday and Friday but that didn’t stop the Aussie bears from attacking. Apparently, they’re not too happy about China’s latest data misses as well as Australia’s weak inflation prospects.
Let’s see if the Aussie can recover in the charts this NFP week. Only the AIG manufacturing index at 10:30 pm GMT is scheduled for today but make sure you’re prepared for the RBA’s interest rate decision tomorrow at 3:30 am GMT. The central bank surprised the markets last month when it kept its rates steady at 3.00%. Was the RBA just delaying an interest rate cut? We’ll find out tomorrow!
After dipping to the 1.0400 support area, AUD/USD was able to resume its rally during yesterday’s trading as it reached a high of 1.0432. With the RBA statement scheduled today, will the Aussie be able to hold on to its gains and go for more?
There were no reports released from Australia yesterday yet the Aussie took a small hit from weaker than expected Chinese manufacturing PMI, which came in at 50.9 instead of the consensus at 51.6. Later on, weaker than expected U.S. ISM manufacturing PMI triggered a round of dollar-selling and allowed AUD/USD to recover from its intraday lows.
Today, the RBA will be making its interest rate decision at 4:30 am GMT. The central bank is expected to keep rates unchanged at 3.00% for the time being as RBA Governor Stevens has emphasized that their recent easing efforts are just starting to kick in. Australia has printed several upbeat economic reports since their previous statement, which suggests that Stevens might sound a little more optimistic this time. If that’s the case, AUD/USD could carry on with its rallies and possibly test the next area of resistance around 1.0500.
Thanks to the RBA interest rate statement, AUD/USD was able to climb in yesterday’s trading session. The pair, which started the day at 1.0422, closed the U.S. trading session with a respectable 25-pip gain at 1.0447.
The RBA, as widely expected, chose to hold rates at 3.00% for the third consecutive monthly meeting. In the statement accompanying the decision, the central bank indicated that inflation would most probably be in line with its outlook. It also believes that growth would be likely “below the trend” for the rest of the year. Most importantly, however, the RBA kept the door open for further rate cuts by indicating outright saying that it has the scope to ease monetary policy if the economy needs support.
Earlier today, the Aussie received a bit of good news. The country’s trade balance showed that the trade deficit for February was only at 180 million AUD, and not 1 billion AUD as initially expected. The Aussie reacted as expected and rallied on the better-than-expected data.
Today, we could see a bit of movement from the Aussie as a few market-moving reports are scheduled to publish. At 12:30 midnight, Australia’s building approvals and retail sales reports will be released. Market participants expect that building approvals rose 2.4% while retail sales increased 0.3%. Better-than-expected figures could help push the Aussie higher again.
The Aussie got tugged this way and that during yesterday’s trading sessions as AUD/USD staged a strong rally to 1.0490 in the Asian session then returned almost all of its gains for the day in the London and New York sessions. What was that all about?
Better than expected trade balance lifted the Australian dollar throughout most of yesterday’s Asian session but AUD/USD was unable to hold on to its gains when weak U.S. data weighed on risk sentiment.
Earlier today, Australia printed a couple of strong reports again, which could give AUD/USD another chance to climb to the 1.0500 mark. Australian building approvals climbed by 3.1% in February, higher than the estimated 2.4% uptick, while the previous month’s figure enjoyed an upward revision. Retail sales also came in better than expected as it jumped by 1.3% in February, stronger than the estimated 0.3% increase and the previous month’s 1.2% rise. Looks like Stevens was right about the RBA’s recent easing efforts kicking in!
There are no other reports due from Australia for the rest of the day, as the Aussie could keep getting lifted by these upbeat reports.
Good data? Who cares? Despite the extremely positive results of Australia’s building approvals and retail sales, AUD/USD still ended up in the negative yesterday. The pair closed at 1.0437, 19 pips lower from its opening price during the Asian session.
No data scheduled to be release in Australia today, but this doesn’t mean that AUD/USD won’t experience any movement today. In fact, AUD/USD will probably be subjected to a lot of volatility later on as the U.S. is set to publish its monthly employment report at 12:30 pm GMT today. If in better than expected, AUD/USD could stage another fall and possibly break through major support at the 1.0390 area.