Mon: Market Holiday: Japan (Autumnal Equinox); EZ, UK & US Flash PMIs (Sep), US National Activity Index (Aug) Tue: RBA Policy Announcement; German Ifo (Sep), US Consumer Confidence (Sep), Richmond Fed (Sep) Wed: Riksbank & CNB Policy Announcements; Australian CPI (Aug), US Building Permits Revision (Aug), New Home Sales (Aug), UK CBI Trends (Sep) Thu:
Share: AUD/USD attracts some buyers to 0.6648 on the weaker USD. Fed’s Waller said interest rates don’t have to go higher to help get inflation back to 2%. RBA Governor Bullock said the central bank has to be cautious when using rates to bring down inflation without raising unemployment. The Australian CPI, US
The Australian Dollar edged slightly higher against the US Dollar today, trading between 0.6550 and 0.6570, marking a slight increase of 0.02%. This modest uptick comes despite concerning indicators of an economic downturn in Australia. The Judo Bank Manufacturing Purchasing Managers’ Index (PMI) has reached a multi-year low, dropping to 47.7. Similarly, the Services PMI
AUD/USD, GBP/AUD PRICE, CHARTS AND ANALYSIS: Most Read: Gold Price Forecast: Rejection at $2000 Level Leaves the Door Open for a Move Lower Trade Smarter – Sign up for the DailyFX Newsletter Receive timely and compelling market commentary from the DailyFX team Subscribe to Newsletter AUSTRALIAN DOLLAR FUNDAMENTAL BACKDROP The Reserve Bank of Australia (RBA)
The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, dipped to -0.40% in October from -0.38% in September. Says WPAC: Economy set to remain stuck in ‘low growth rut’ well into next year. Range of
Share: Reserve Bank of Australia (RBA) Governor Michele Bullock said on Tuesday that inflation will be the major challenge for the economy over the next two years. Key quotes “Underlying demand was fueling part of the inflation challenge, and it was not entirely a supply-driven issue.” “Says inflation is a crucial challenge in
AUD/USD ANALYSIS & TALKING POINTS Australian wage growth the highest since 2009. Focus now shifts to US PPI and retail sales data. AUD/USD bulls look to break 0.65 handle. Elevate your trading skills and gain a competitive edge. Get your hands on the Australian dollar Q4 outlook today for exclusive insights into key market catalysts
The bulk in the +55K gain in jobs was part-time, which will take some of the heat out the headline. Nevertheless it points to still strong demand for labour and keeps wage pressures on the simmer. Unemployment rate 3.7% as expected, despite a higher participation rate It won;t be long until thoughts turn to this
Share: Australian Dollar could continue its downward trajectory. Australia’s central bank adopted a dovish stance in their recent meeting. US Dollar seems lukewarm, despite the positive tone of US bond yields. The Australian Dollar (AUD) aims to continue a week-long slump while the US Dollar (USD) keeps weakening on Monday despite higher US Treasury
Australia Building Approvals for September 2023 come in at -4.6% m/m expected +1.3%, prior +7.0% A poor report for the sector. IF the RBA is eyeing data on the health of the Australian econly they’ll be getting worried. This from earlier (check the remarks from the report, not confidence inspiring at all): Australian final manufacturing
