Australian Dollar (AUD/USD) Prices, Charts, and Analysis Download our Free Q4 Australian Dollar Forecast: Recommended by Nick Cawley Get Your Free AUD Forecast The Reserve Bank of Australia hiked rates by 25 basis points earlier today, as the central bank continues to struggle with above-target inflation. The move, widely expected, saw the Official Cash Rate
Share: In its latest report published on Tuesday, the International Monetary Fund (IMF) upgraded its gross domestic product (GDP) growth forecasts for China to 5.4% in 2023 and 4.6% in 2024. This came in contrast with October’s outlook when the IMF revised down 2023 and 2024 China’s growth forecasts for China to 5.0%
EUR/USD TECHNICAL ANALYSIS EUR/USD blasted higher last week following weaker-than-expected U.S. economic data, taking out a clear barrier in 1.0670/1.0695 area. Bullish momentum, however, faded on Monday, with the pair stalling after failing to clear technical resistance at 1.0765, which corresponds to the 38.2% Fibonacci retracement of the July/October pullback. For guidance on the near-term
Share: China’s newly appointed Finance Minister Lan Foan said over the weekend that the government “will accelerate the issuance and use of government bonds.” Additional quotes Will steadily promote the resolution of local government debt risk and increase efforts to better leverage the role of special bonds to boost the economy. Will continue
USD/JPY AND AUD/USD OUTLOOK: USD/JPY retreats for the second straight day as the broader U.S. dollar softens after the Fed fails to steer markets toward pricing another hike Meanwhile, AUD/USD breaks out to the topside after clearing trendline resistance Attention now turns to Friday’s U.S. economic data, which includes the nonfarm payrolls report and the
Share: AUD/USD gains traction for the second straight day and climbs to over a three-week top. The post-FOMC USD selling bias turns out to be a key factor behind the ongoing move up. A move beyond the 50-day SMA and the 23.6% Fibo. supports prospects for further gains. The AUD/USD pair builds on
Share: Australian Dollar’s strength is reinforced by stronger Retail Sales. Australia’s Retail Sales surged to 0.9%, significantly higher than the market consensus of 0.3%. US and China have agreed on a meeting between Presidents Joe Biden and Xi Jinping in November. US Dollar encountered a challenge after a moderate Core PCE Price Index data on Friday.
Share: AUD/USD holds positive ground around 0.6339 in early Monday. US Core PCE eased to 3.7% YoY vs. 3.8% prior, the headline PCE remain unchanged at 3.4%. Markets anticipate the Reserve Bank of Australia (RBA) to raise the cash rate at its meeting on November 7. The Fed rate decision this week will
Share: AUD/USD recovers from 0.6318 to trade around 0.6330s, up 0.22%. US core PCE at 3.7% YoY, below August’s data, with general inflation at 3.4%, in line with forecasts. Australian inflation above 5%, increasing the likelihood of another RBA rate hike in the near term. AUD/USD bounces off daily lows reached at 0.6318
Share: AUD/USD recovers its recent losses on the softer USD. The preliminary US Q3 GDP rose 4.9%, Continuing claims rose to the highest reading since May. The markets anticipate the potential additional rate hike from the RBA at the November meeting. Investors will focus on Australian PPI, and US monthly core Personal Consumption
