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
AUD/USD AUD/USD endured a surge in volatility last week. After opening around 0.7500, AUD/USD lifted more than 2.0% to a high of 0.7661, before declining to close the week lower at 0.7458. The initial surge and reason for last week’s 0.7661 high in AUD/USD was because the RBA delivered a more hawkish economic statement at
AUD/USD AUD/USD has been in a relatively tight range for a week-and-a-half (0.7465 to 0.7540), as it consolidates the 4.5% appreciation it has had since the Fed lifted rates on March 16. It will take a particular catalyst for AUD/USD to break out of that range. The stronger than expected U.S. March non-farm payrolls data
AUD/USD Last week, AUD/USD closed at 0.7515, and near the high of the week. AUD continues to outperform, with the RBA’s trade-weighted index up 7.5% since the start of February. The RBA will likely be viewing the AUD’s appreciation as helpful to dampen imported inflation pressures. The RBA will not be concerned that AUD’s appreciation
AUD/USD After a week of consolidating earlier gains, AUD/USD proceeded to appreciate again, and closed last week on its highs at 0.7415. This in itself is a bullish signal, suggesting further gains for AUD/USD.One of the key reasons for further appreciation in AUD/USD is because the USD has begun to decline, despite last week, the