FX Trading News & Strategies from Australian Stock Report
The Australian dollar remained under pressure over the last-24 hours, with risk-aversion gripping markets ahead of this evening’s summit of European leaders. The local currency extended declines against its US counterpart (AUDUSD) this morning after weaker-than-expected inflation figures fuelled speculation that the RBA may cut interest rates on 1 November. The New Zealand dollar was [...]
Positive economic data out of Australia’s major trading partner, China, boosted the Australian dollar over the past-24 hours. Strong gains in international equities and commodities last night also provided a boost as the risk on trade came back in vogue. The overnight move saw the AUDUSD trade up to a high of US$1.05 but during [...]
Currency markets were volatile overnight with the greenback dropping to a record low against the Swiss franc on the back of the latest ISM manufacturing numbers which came in well below expectations. The Canadian and Australian dollars also lost ground on the news, tracking weakness in commodities and equities as risk-off once again became the [...]
The Aussie dollar held firm yesterday following the announcement in the morning that Greek Prime Minister Papandreou had won the confidence vote. The local unit didn’t fare so well overnight, however, retreating along with international equity markets as investors shied away from risk. That weakness has continued during today’s Asian trading with the pair currently [...]
The Aussie dollar retreated during yesterday’s domestic session despite a stronger equity market. The latest RBA minutes revealed that there was no urgency for central bank to raise rates, which provided little impetus for the local unit to push higher. Overnight, however, the pair rallied off the lows as some risk appetite came back into [...]
The Australian dollar rallied on Friday night, moving back through the 1.0600 region amid less risk aversion from international traders. The move higher hasn’t been sustained into the new trading week, however, with the AUDUSD currently trading around 1.0545. The Kiwi also moved higher against the greenback on Friday night, amid easing concerns about the [...]
Forex Trading Summary: November 4
Greece’s decision to retract its proposed referendum on the next tranche of its bailout money sent riskier assets soaring over the last 24-hours. The Australian dollar was a major beneficiary gaining over 200 pips to touch a high of 1.0430 against the US dollar. Today’s the pair pulled back a touch, 1.0440 to 1.0390, after the [...]