AUD news
- The AUD/USD pair has been in a strong upward momentum and is approaching 0.7000.
- The pair has risen because of a weaker US dollar, China recovery, and a less dovish RBA.
- According to the RSI, the pair has not been this overbought since January this year.
Latest AUD news
The AUD/USD pair declined after the Australian Bureau of Statistics (ABS) released upbeat March jobs numbers. The data showed that the country’s job market remained steady before coronavirus restrictions started. Australian dollar falls AUD/USD falls after March jobs numbers Australia jobs data According to ABS, trend employment increased by about 17,000 people in March. Most of these jobs, around 9,000, were full-time employees while about...
The AUD/USD pair stalled today as investors reacted to Chinese trade data and Australia’s business confidence numbers. AUD/USD stalled after mixed data from Australia and China Australia business confidence slip Australian business confidence slipped to an all-time low according to a survey by the National Australian Bank (NAB). The business confidence declined to -66, its lowest level ever recorded. It was also lower than February’s...
The AUD/USD rally continued as the number of new coronavirus cases continued to dwindle in Australia. The pair has rallied by more than 5% this week, making it the best-performing currency in the developing world. The ASX 200 rose by more than 3% this week, bringing the last two weeks total to more than 7%. Australian dollar vs peers Australia coronavirus cases drop Coronavirus data from Australia has been encouraging. Data from Worldometer shows...
Australia upbeat manufacturing PMI The Australia dollar falls after the Australian Industry Group (AIG) released upbeat manufacturing data. The number showed that the country’s manufacturing sector had an excellent month due to internal demand as more Australians stockpiled. According to AIG, Australia’s manufacturing PMI for March rose to a seasonally-adjusted level of 53.9. This was 9.4 points higher than where it was in February an...
The Australian Bureau of Statistics announced the unemployment rate to have unexpectedly dropped in February amidst the Coronavirus pandemic that is threatening to push the global economy into recession. The Bureau revealed the jobless rate in Australia to have declined to 5.1% in February. In January, the ABS had announced the unemployment rate at a slightly higher 5.3%. Economists were expecting the rate to remain flat in February. ABS Reduced...
The raging bushfire turned into a significant blow to the £1 trillion Australian economy towards the end of last year. The Coronavirus pandemic and the associated travel bans and global business disruptions are further pushing the economy down. In its recent attempt to combat the economic impact of Coronavirus, the Reserve Bank of Australia (RBA) resorted to the second rate cut in March on Thursday. The central bank held an emergency policy...
The Australian Bureau of Statistics (ABS) released its monthly report on retail sales on Wednesday. The data suggested an increase in Australian retail sales in February which, according to analysts, was attribute to Coronavirus pandemic that fueled panic buying among the Australian consumers at the grocery stores. The ABS revealed a 0.4% increase in Australian retail sales in February on Wednesday. In January, retail sales had posted a 0.3% decl...
The Australian Bureau of Statistics (ABS) released the monthly retail sales report for January on Friday. The data suggested Australian retailers to have been faced with challenges at the start of the new year as raging bushfires continued to weigh on traffic at the stores. Friday’s data shows retail sales in January remained under pressure even before the impact of the Coronavirus epidemic became any kind of a factor. At A$27.63, retail sa...
The Australian Bureau of Statistics (ABS) revealed the quarterly GDP report on Wednesday. The data suggested higher than expected expansion in the Australian economy in the recent quarter. Despite the raging bushfires and the rapid spread of Coronavirus across borders weighing heavily on travel and tourism industries, Wednesday’s data helped to erase the rising risks of a recession in Australia. Coronavirus driven pressure on the global eco...
The Reserve Bank of Australia decided in favor of cutting rates further to a record low of 0.50% on Tuesday. With Coronavirus rapidly spreading across borders, multiple other economies are set to follow in Australia’s footsteps and add fiscal stimulus to counter the effects of the global economic slowdown. Tuesday’s decision marks the 4th time that the Australian central bank has reduced the cash rate. Data from 2020’s first qua...
The Australian Bureau of Statistics (ABS) announced its report on business investment on Thursday. The data suggested a sharp quarterly decline ascribed to the building and mining sectors keeping under pressure. Wednesday’s data fueled the expectations of another rate cut by the Australian central bank in 2020 and hinted at no improvement in spending in the short-term. The ABS revealed a decline in business investment to 2.8% (A$28.5 billio...
The Australian Bureau of Statistics (ABS) revealed the quarterly wage price index last week on Wednesday. The data suggested that wages in Australia grew at a stagnant 0.5% in the recent quarter while the gain on a year over year basis was recorded at only 2.2%. According to experts, much of the pressure on the index was derived from Australia’s bushfire crisis and the recent outbreak of Coronavirus in China that is weighing on consumer spe...
The Australian Bureau of Statistics announced the unemployment rate to have unexpectedly surged in January despite an increase in full-time employment. As per Thursday’s data, unemployment climbed to 5.3% in January versus a 5.2% anticipated by economists. The data also highlighted 13,500 new jobs to have been added to the Australian market in January with the participation rate posting at 66.1%. On both these fronts, January’s readin...
NAB business confidence report highlighted the business conditions in Australia to have remained weak on Tuesday. The report suggested minor improvement in confidence as compared to its previously recorded worst reading since 2013. The business conditions index of the National Australia’s Bank (NAB) was revealed at +3 in January that fell significantly shy of the long-run average that’s currently at +6. The survey’s component of...
The economic data continues to weigh on the Australian economy. Earlier on Thursday, the Australian Bureau of Statistics had announced a worse than expected 0.5% decline in monthly retail sales, much of which was attributed to the bushfires in Australia and the coronavirus outbreak in China. Later in the day, the Bureau further added that December saw a massive decline of $295 million in Australia’s trade surplus that contracted to $5.223 b...
The Australian Bureau of Statistics announced the monthly retail sales report on Thursday that printed December’s data as the worst in two and a half years. Analysts attributed the sharp decline in retail sales to the bushfires in Australia’s south-eastern coast that continue to keep its largest cities like Melbourne and Sydney under a smoke haze. Owing to discouraged shoppers, retail sales saw a 0.5% decline in December that marked t...
In its first policy meeting of the year, Australia’s central bank decided in favor of keeping the cash rate unchanged on Tuesday. In its statement, the bank was also optimistic about the economic outlook at large. Signs from markets as well as the experts, however, are sure that bushfires and the ongoing Coronavirus outbreak are likely to call for aggressive easing in the upcoming months. The Reserve Bank of Australia (RBA) had cut the key...