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
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePT7Yu8 https://t.co/GFx3b1W0OD
  • RBNZ's Hawkesby talking "considered steps" when setting monetary policy, leaning towards 25bps - With money markets pricing in 31bps worth of tightening at the October meeting. Room for disappointment. https://t.co/C7DHnPIeuU https://t.co/K2835aP57Z
  • Gold has plunged nearly 5% off the Monthly high with the sell-off now probing key weekly support here at 1738/47- looking for a pivot here with the Fed interest rate decision on tap. Get your $XAUUSD market update from @MBForex here:https://t.co/Vnxi4143uT https://t.co/zTpqrFIZfk
  • RBNZ: - We have benefitted from a robust rebound in China, our main trading partner - The interruption to the economy's supply side has lasted longer than expected
  • RBNZ: - Vaccination program has aided a stronger-than-expected rebound in the global economy - Demand for our exports has fared better than previous recessions
  • Between the volatile risk trend picture at the moment along with the Fed rate decision and expected 100bp hike from the Brazilian central bank both on Wednesday, $USDBRL is going to be a very interesting pair to watch...
  • RT @EricBalchunas: $SPY traded more than the Top 5 stocks combined. Just when you think $SPY is fading away like an aging legend you realiz…
  • Bitcoin sharply lower on the day, but well off session lows around $42,500 $BTCUSD #Bitcoin https://t.co/mPiZMs8eYH
  • You know what index didn't suffer an overtly threatening reversal this past session? The Russell 2000. It didn't continue the same steady climb through 2021 that the Dow, SPX and Nasdaq enjoyed; so not as much excess premium https://t.co/ieHojAC7b5
  • USD/JPY extends the rebound from the weekly low (109.11) as the stronger-than-expected US Retail Sales report fuels speculation for an imminent shift in monetary policy. Get your $USDJPY market update from @DavidJSong here:https://t.co/Rozq62yAou https://t.co/toaAHiCavK
Forex News: Aussie Unchanged as Consumers Increased Credit Purchases

Forex News: Aussie Unchanged as Consumers Increased Credit Purchases

Gary Kerdus,

THE TAKEAWAY: Australian credit card transactions increased to $A22.5B > Consumer confidence in Australia declined while recent wage earnings contracted > AUDUSD little changed

The Australian Dollar was little changed as consumers purchased $A22.5 billion on their credit cards in October which was an increase from September at $A19.5 billion. Moreover, the Westpac Bank released their consumer confidence figures that showed a 4.1 percent decrease in December. These two releases appear conflicting as increasing credit transactions may imply that consumers are increasingly confident that they can earn higher incomes to cover the cost of financing. However, when taking a closer look at the most recent wage data, workers’ earning actually contracted in the third quarter which may suggest consumers are using credit to make up for lost wages.

In Japan, machine orders showed modest gains in October at a 2.6 percent increase while domestic corporate goods prices decreased 0.9 percent in November, year-over-year.

Forex traders are likely to remain on the sidelines and wait for guidance from the Federal Reserve when trading the Australian Dollar versus the U.S. Dollar as the higher yielding currency may be affected by a large shift in risk trends if FED policy offers a big surprise. The Fed meeting is scheduled later today at 17:30 GMT.

AUD/USD, Weekly Chart

Forex_News_Aussie_Unchanged_as_Consumers_Increased_Credit_Purchases_body_Picture_1.png, Forex News: Aussie Unchanged as Consumers Increased Credit Purchases

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

DISCLOSURES