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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Rates market priced for perfection leaves GBP vulnerable to hawkish disappointment
  • 🇲🇽 Unemployment Rate (AUG) Actual: 4.3% Expected: 4.4% Previous: 4.4%
  • $GBPUSD dipping below 1.3600 - $EURGBP back towards 0.8600
  • Heads Up:🇲🇽 Unemployment Rate (AUG) due at 11:00 GMT (15min) Expected: 4.4% Previous: 4.4%
  • Heads Up:🇧🇷 BCB Copom Meeting Minutes due at 11:00 GMT (15min)
  • The non-farm payroll (NFP) figure is a key economic indicator for the United States economy. It is also referred to as the monthly market mover. Find out why it has been given this nickname here:
  • USD approaching YTD high (93.73) Factors supporting USD - Yields picking up - Risk appetite weaker - Corporate month end, typically USD positive
  • China State Grid says will strictly control power consumption by high-energy consuming polluting sectors - Will closely monitor supply of thermal coal, hydro and wind power
  • Citi lowers China 2022 GDP forecast 4.9% from 5.5%, citing expected spillover from managed Evergrande restructuring
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
Australian Dollar Declined as Soft Data Rekindled RBA Rate Cut Bets

Australian Dollar Declined as Soft Data Rekindled RBA Rate Cut Bets

Daniel Dubrovsky, Strategist

Talking Points:

  • Australian Dollar declines more than 0.9% versus the US Dollar
  • April’s trade balance is –AU$3888M, a record high deficit
  • Soft data offers counter argument to RBA’s natural policy tone

The Aussie declined more than 0.9 percent versus its US namesake after the release of Australia’s April trade balance and retail sales. The data fell short of expectations with the country having a record deficit of –AU$3888M in April versus -AU$2100M expected. Retail sales also came in weaker at 0.0 percent (MoM) in April versus 0.3 percent (MoM) in March.

On Monday the Reserve Bank of Australia remained neutral in its monetary policy stance rather than turning dovish, this drove Aussie higher. On Wednesday, better than expected 1Q GDP likely caused the Aussie to gain against its US namesake as the data supported RBA’s monetary policy tone.

A round of weak data from Australia today offered conflicting viewpoints to the country’s 1Q GDP figures. The central bank did hint on Monday that any further rate cuts are likely to be made on how incoming data unfolds. A record deficit and weaker retail sales likely rekindled RBA rate cut bets, causing the Australian Dollar to decline against the US Dollar. Simultaneously, Australian government bond yields declined suggesting the move lower reflected building rate cut speculation.

Australian Dollar Declined as Soft Data Rekindled RBA Rate Cut Bets

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