News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Real Time News
  • If all these new demands get incorporated in the final package, the legislation's price tag will drop significantly. We could be looking at something close to $1.5 trillion or even less $USD $XAUUSD https://t.co/xJtlAECDFD
  • *Reminder: Weekly Strategy Webinar Tomorrow Morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
  • According to GS, S&P 500 daily returns are positively correlated with flows. Over the last 3 months, flows have been strong, but the $SPX was flat (model predicted a 7% rally). When SPX returns and flows deviate, they tend to mean-revert in subsequent periods #trading https://t.co/2JbZV2dbAa
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/tWwIzXWwj3
  • Further your forex knowledge and gain insights from our expert analysts @ddubrovskyFX and @FxWestwater on JPY with our free Q4 market analysis guide, available for free today.https://t.co/mzeJ5x73N3 https://t.co/lDBYbDLQtZ
  • How does stock market liquidity benefit its traders? Learn more here: https://t.co/FWKyIDUwAw https://t.co/tyoYrsh8mQ
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/4078fnQJON
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/kIIBffEMi7 https://t.co/tt59BU8lnS
  • Quarterly earnings from Netflix and Tesla, two big tech companies, will take center stage next week and could set the trading tone for the S&P 500 and the Nasdaq 100. Get your weekly equities forecast from @DColmanFX here: https://t.co/NOCqjJ3TLd https://t.co/HR5xUZeJXp
  • Do you know the difference between investing and trading? Because while the goal might seem the same, they're very different things . Learn more here.https://t.co/fG6fNEPj9q https://t.co/ymGaYjrl1g
Aussie Dollar at Standstill as GDP Failed to Accelerate

Aussie Dollar at Standstill as GDP Failed to Accelerate

Gary Kerdus,

THE TAKEWAY: Australian GDP does not accelerate > European and Chinese slowdown dampen Aussie growth prospects > Australian Dollar little changed

The Australian Dollar was little changed versus the U.S. Dollar after quarterly and yearly gross domestic product figures were released. GDP was unchanged on a yearly basis for the second quarter of this year at +3.7 percent which met expectations. On a quarterly comparison however, gross production came across the wires at +0.6 percent whereas expectations called for a +1.3 percent increase.

Falling commodity prices and declining demand for Aussie exports pose the greatest risk to Australian economic prosperity. Australia mines iron ore and then exports it to China. China then uses the raw material to produce steel which is then exported to Europe. Chinese demand has slowed and it should come as little surprise by now that the Chinese steel industry reported losses roughly of 1.98 billion yuan in July, according to China Business News. The Eurozone recession which has helped feed the Chinese slowdown has also likely begun to spill over and dampen Australian growth prospects.

The Aussie currency has lost roughly 3 percent in relative value versus the greenback since August 9.

AUD/USD, 1 Minute Chart

Aussie_Dollar_at_Standstill_as_GDP_Failed_to_Accelerate__body_Picture_1.png, Aussie Dollar at Standstill as GDP Failed to Accelerate

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES