The Australian dollar fell heavily across the board on Tuesday as trade war fears flared again. The AUD/USD currently sits just above its year-to-date low. With little economic data or events scheduled on Wednesday, direction looks set to be dictated by sentiment and technicals. The wild swings in the Australian dollar continued on Tuesday, this time to the downside. As seen in the scoreboard as at 7.50am AEDT, the Aussie was creamed across the board, skidding lower late in the session as trade war fears flared again. AUD/USD 0.7676 , -0.007 , -0.90% AUD/JPY 80.91 , -0.73 , -0.89% AUD/CNH 4.8122 , -0.0318 , -0.66% AUD/EUR 0.6189 , -0.0036 , -0.58% AUD/GBP 0.5421 , -0.0022 , -0.40% AUD/NZD 1.0564 , -0.0047 , -0.44% AUD/CAD 0.9891 , -0.0055 , -0.55% After opening the session at .7746, the AUD/USD gradually lost ground in Asian trade as the US dollar index found support after falling to a fresh one-month low on Monday. With no major data or events during the session, the US … [Read more...] about The Australian dollar has been slammed again
Australian dollars
FROM WAR TO THAW: The Australian dollar recovers as trade tensions subside
The Australian dollar rallied hard against the US dollar and Japanese yen. But the Aussie lagged the move in most other major currencies as China/US tensions subside. The data calendar is quiet, likely ensuring that sentiment and technicals dictate direction. The Australian dollar rallied hard against the US dollar and Japanese yen on Monday, finding support from news that Chinese and US policymakers are attempting to resolve their differences over recent trade tensions. However, as seen in the scoreboard below as at 7.55am AEDT, while the Aussie rallied against the greenback and yen, it lagged the move seen in other major currencies during the session. AUD/USD 0.7747 , 0.0051 , 0.66% AUD/JPY 81.65 , 1.01 , 1.25% AUD/CNH 4.8444 , -0.0131 , -0.27% AUD/EUR 0.6222 , -0.0011 , -0.18% AUD/GBP 0.5443 , -0.0002 , -0.04% AUD/NZD 1.0611 , -0.002 , -0.19% AUD/CAD 0.9955 , 0.0032 , 0.32% After opening the new trading week at .7696, the AUD/USD slowly ground higher throughout Asian, … [Read more...] about FROM WAR TO THAW: The Australian dollar recovers as trade tensions subside
The Australian dollar is under pressure as trade war fears simmer
The Australian dollar remains under pressure despite renewed weakness in the greenback. Ongoing concerns about a potential trade war erupting between China and the US are weighing on stocks and commodity prices, helping to explain the Aussie’s recent underperformance. The economic calendar is quiet on Monday, suggesting that geopolitics and technicals will continue to dominate movements in Aussie dollar. The Australian dollar remains under pressure, opening the new trading week just above the 77 cent level despite renewed weakness in the greenback. Here’s the scoreboard as at 7.45am AEDT. AUD/USD 0.7702 , 0.0006 , 0.08% AUD/JPY 80.63 , -0.01 , -0.01% AUD/CNH 4.8588 , 0.0013 , 0.03% AUD/EUR 0.6235 , 0.0002 , 0.03% AUD/GBP 0.5449 , 0.0004 , 0.07% AUD/NZD 1.0641 , 0.001 , 0.09% AUD/CAD 0.9917 , -0.0006 , -0.06% Ray Attrill, Head of FX Strategy at the National Australia Bank, said the Aussie was undermined by steep losses in global stocks, a lift in financial … [Read more...] about The Australian dollar is under pressure as trade war fears simmer
The Australian dollar is soaring
The Australian dollar surged higher overnight, logging the largest increase against the greenback in eight months. The rally was driven by US dollar weakness and sharply higher commodity prices. Australia’s February jobs report will be released today. The Australian dollar ripped higher on Wednesday, fuelled by a sharply weaker greenback and stronger commodity prices. Here’s the scoreboard as at 7.50am AEDT. AUD/USD 0.7774 , 0.0092 , 1.20% AUD/JPY 82.38 , 0.54 , 0.66% AUD/CNH 4.8992 , 0.0343 , 0.71% AUD/EUR 0.6298 , 0.0024 , 0.38% AUD/GBP 0.5495 , 0.0007 , 0.13% AUD/NZD 1.0741 , 0.0051 , 0.48% AUD/CAD 1.0024 , -0.0017 , -0.17% After falling to a three-month low below 77 cents a session earlier, the AUD/USD ripped higher in the latter parts of trade on Wednesday following the release of the US Federal Reserve’s March interest rate decision. Business Insider Emails & Alerts Site highlights each day to your inbox. While the Fed lifted its funds rate … [Read more...] about The Australian dollar is soaring
The Australian dollar tanked
The Australian dollar went hard into reverse on Thursday, giving back all of Wednesday’s gains. A combination of heightened trade tensions between the US and China, along with lower commodity prices and a surprise lift in Australian unemployment, explained the Aussie’s slide. There are few major data releases scheduled on Friday, likely ensuring that headlines and sentiment will dictate market direction. The Australian dollar fell heavily on Thursday, reversing all of Wednesday’s substantial gains. Here’s the scoreboard as at 7.50am AEDT. AUD/USD 0.7692 , -0.0073 , -0.94% AUD/JPY 80.97 , -1.35 , -1.64% AUD/CNH 4.8758 , -0.0178 , -0.36% AUD/EUR 0.6252 , -0.0039 , -0.62% AUD/GBP 0.5455 , -0.0034 , -0.62% AUD/NZD 1.0666 , -0.0068 , -0.63% AUD/CAD 0.996 , -0.0056 , -0.56% New tariffs on Chinese imports introduced by the United States, along with sharply lower commodity prices and a surprise lift in Australia’s unemployment rate in February, … [Read more...] about The Australian dollar tanked