AUD/USD AUD/USD touched a two-year low of 0.6762 on Thursday last week. Intensifying concerns over slowing global economic growth, and USD strength are the main reasons for the downward pressure on AUD/USD. There is nothing on the horizon to dampen these concerns, and so it is likely that the downward pressure on AUD/USD will continue,
AUD/USD AUD/USD fell to 0.6764, its lowest level in more than two-years, since June 2020. AUD/USD will continue to trade heavy while concerns over a global economic slowdown intensify, and the USD continues to strengthen. Reflecting the dominance of the concerns over slowing global economic growth, global bond yields have declined from their mid-June 2022
AUD/USD AUD/USD avoided edging lower of the course of last week. But showed an unconvincing bounce, closing marginally above the previous week’s close. What is interesting, is it has also been a week when the USD has closed the week lower. AUD has undergone some outright depreciation, reflected by the fact that AUD has moved
AUD/USD Last week AUD/USD closed at 0.6932, its lowest level at the end of a particular week, in almost two-years. The lower close on Friday, despite U.S. equities lifting on the day, suggests there is more near-term downside in AUD/USD this week. And a decline to the 13 May low of 0.6829 is the least
AUD/USD The USD began to re-assert its strength at the beginning of June. Late last week, as the higher-than-expected U.S. May inflation reading rolled in at 8.6% (YoY), the USD further strengthened. AUD/USD closed the week at 0.7051, its lowest level since 25 May. AUD/USD is currently trading between two competing forces. The dominating forces
AUD/USD AUD/USD, after declining as much as 3.7% this week to 0.6829, and to a two-year low, AUD/USD began to stage a little bit of a recovery on Friday, and closed the week at 0.6940. Most of the move in AUD/USD over the week reflects pure USD strength. But downward revisions to global growth and
AUD/USD AUD/USD closed the week marginally higher at 0.7076, albeit at the lower-end of its six-month range. USD strength, and growing concerns about the global economy are the main factors weighing on AUD/USD. Last week, the U.S. Federal Reserve raised the Fed funds interest rate by 0.5% to 1.0%, and indicated that two further 0.5%
AUD/USD AUD/USD declined more than 2.6% over the last week, hitting a low of 0.7055, before recovering somewhat. The main reason for the decline in AUD has been the relentless strength in the USD, as the interest rate market prices higher U.S. interest rates. Friday’s selling in AUD/USD was related to end-of-month selling associated with
AUD/USD AUD/USD closed on its lows for the week, at 0.7244. The decline in AUD/USD is below the 200-day moving average of 0.7262, which is a bearish signal. It now suggests the 200-day moving average of 0.7262 will act as short-term technical resistance. The three major reasons for the decline in AUD/USD over the last
AUD/USD After a period of diversion, the USD has again taken over as the major driver of AUD/USD. Oil price movements are also impacting the direction in AUD/USD because of Australia’s large net energy export status. Australia’s energy exports (coal, LNG, and oil) account for 23% of Australia’s total exports. AUD, despite the volatility in