The Australian dollar continues to range trade against the greenback despite strong US economic data released on Friday. There’s a raft of major economic data released in Australia today. Retail sales data for April is the headline act. Currency strategists at the Commonwealth Bank say the AUD/USD is likely to remain range-bound this week. The Australian dollar has opened the new trading week in familiar territory, continuing to range trade against greenback despite strong US economic data released on Friday. Here’s the scoreboard as at 8.05am in Sydney. AUD/USD 0.7565 , -0.0001 , -0.01% AUD/JPY 82.84 , 0.03 , 0.04% AUD/CNH 4.8521 , 0.0062 , 0.13% AUD/EUR 0.6486 , 0.0001 , 0.02% AUD/GBP 0.5667 , 0.0003 , 0.05% AUD/NZD 1.0829 , 0.0017 , 0.16% AUD/CAD 0.9803 , 0 , 0.00% As seen in the hourly chart below, the AUD/USD finished Friday’s session almost exactly where it started, showing limited reaction to stronger-than-expected US non-farm payrolls and ISM … [Read more...] about The Australian dollar remains stuck in familiar ranges
Australian dollars
The Australian dollar’s roller coaster ride continues
The Australian dollar pushed higher on Wednesday, benefiting from buying against the euro and strength in crude oil prices. Another soft Australian wage report was largely overlooked by traders. Australian jobs data for April will be released during the session. The Australian dollar’s roller coaster ride continued on Wednesday, recovering from an early dip to close higher against most of the major crosses. Here’s the scoreboard as at 7am in Sydney. AUD/USD 0.7514 , 0.0043 , 0.58% AUD/JPY 82.95 , 0.51 , 0.62% AUD/CNH 4.7715 , 0.0169 , 0.36% AUD/EUR 0.6363 , 0.0052 , 0.82% AUD/GBP 0.5569 , 0.0039 , 0.71% AUD/NZD 1.0890 , 0.0006 , 0.06% AUD/CAD 0.9609 , -0.001 , -0.10% As seen in the scoreboard, the Aussie rose strongly against all majors except the Canadian and New Zealand dollars, benefiting from buying against the euro and renewed strength in crude oil prices. “Commodity currencies have all made a decent comeback since Australia went home on Wednesday … [Read more...] about The Australian dollar’s roller coaster ride continues
The Australian dollar is a bit lower
The Australian dollar had a mixed start to the week, falling against most of the major crosses except the New Zealand dollar. Broader movements in currency markets were dictated by geopolitics and continued strength in crude oil prices. The economic events calendar picks up today, both in Australia and abroad. The Australian dollar had a mixed start to the week, falling against most of the major crosses except the New Zealand dollar. The scoreboard below as at 7am AEST tells the story. AUD/USD 0.7525 , -0.0017 , -0.23% AUD/JPY 82.5 , 0.03 , 0.04% AUD/CNH 4.7682 , -0.007 , -0.15% AUD/EUR 0.6308 , -0.0003 , -0.05% AUD/GBP 0.5551 , -0.0017 , -0.31% AUD/NZD 1.0882 , 0.006 , 0.55% AUD/CAD 0.9634 , -0.0019 , -0.20% With little in the way of fresh economic data to go off, the broader currency market movements were dictated by geopolitical and central bank headlines, said David de Garis, Economist at the National Australia Bank. “It’s been an overnight night absent of … [Read more...] about The Australian dollar is a bit lower
The Australian dollar is still grinding higher
The Australian dollar edged higher on Friday, continuing to benefit from a softer-than-expected US consumer price inflation report for April released on Thursday. Data released on Friday revealed short US dollar positions held by traders continued to evaporate last week, hinting that the tailwinds for the greenback from short covering may be coming to an end. No major economic data is scheduled for release on Monday. The Australian dollar edged higher on Friday, continuing to benefit from a softer-than-expected US consumer price inflation report for April released a session earlier. Here’s the scoreboard as at 7.50am AEST. AUD/USD 0.7544 , 0.0002 , 0.03% AUD/JPY 82.46 , -0.01 , -0.01% AUD/CNH 4.7776 , 0.0024 , 0.05% AUD/EUR 0.6314 , 0.0003 , 0.05% AUD/GBP 0.5569 , 0.0001 , 0.02% AUD/NZD 1.0831 , 0.0009 , 0.08% AUD/CAD 0.9649 , -0.0004 , -0.04% And here’s the AUD/USD hourly chart showing the price action seen over the past few weeks. Ray Attrill, Head of FX … [Read more...] about The Australian dollar is still grinding higher
The Australian dollar just posted its largest gain in months
The Australian dollar jumped on Thursday, rallying hard against the greenback and all major crosses. A soft US inflation report for April was the main catalyst behind the move. There’s very little major economic data scheduled for release on Friday. The Australian dollar jumped on Thursday, rallying hard against the greenback and all major crosses. Here’s the scoreboard as at 7am AEST. AUD/USD 0.7533 , 0.0071 , 0.95% AUD/JPY 82.4 , 0.51 , 0.62% AUD/CNH 4.7671 , 0.0183 , 0.39% AUD/EUR 0.6321 , 0.0024 , 0.38% AUD/GBP 0.5573 , 0.0066 , 1.20% AUD/NZD 1.0816 , 0.0139 , 1.30% AUD/CAD 0.9612 , 0.0029 , 0.30% The Aussie was supported by a soft US inflation report for April, helping to diminish concerns that price pressures may prompt the US Federal Reserve to lift interest rates faster and higher than markets currently expect. “[The] USD fell against most major currencies overnight and US-10 year Treasury yields dropped back under 3.00% because of softer US … [Read more...] about The Australian dollar just posted its largest gain in months