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.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Greed has proven to be a hindrance more than assistance for traders. How does greed lead to #FOMOintrading? Find out from @RichardSnowFX here: https://t.co/aT8TZjlFqP https://t.co/Le8Qx6OOwV
  • $GBPUSD at the moment break-even straddles = 152pips meaning that for option traders to realize gains, the spot price must see a move greater than 152pips. Get your market update from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/RXCBwHGluG
  • $EURGBP has fallen over 6% since August and is now rapidly approaching a critical support level not reached since May. Will a break below accelerate the aggressive selloff? Find out from @ZabelinDimitri here: https://t.co/CBM8Fg7vM0 https://t.co/0yDnEpzQqR
  • The #Euro is struggling for direction against the US Dollar but the near-term downtrend guiding it lower since late June remains firmly intact. Where is $EURUSD heading? Get your technical analysis from @IlyaSpivak here: https://t.co/us6AINmuoe https://t.co/J4hQtyprYf
  • $DXY & $SPX500 hold steady after #FED rate cut. Get your update from @JohnKicklighter here: https://t.co/vqXlKCMDYA
  • Dow Jones & Dax 30 levels to watch ahead of the fed from @PeterHanksFX here: https://t.co/iUIrsygKz2
  • The politics of the US and UK may be starkly divided but their grip on the vast, $6.6 trillion global foreign exchange trade seems as tight as ever. Get your market update from @DavidCottleFX here:https://t.co/xTKHOvrIqg https://t.co/vtHhdnF82Q
  • How can confidence in trading help with avoiding #FOMOintrading? Find out from @WVenketas here: https://t.co/MY7j9ISn4S https://t.co/n7XwfiDZz2
  • The week saw a slightly more dovish than expected RBA minutes increase the importance of the latest labour market report, which showed an uptick in the unemployment rate to 5.3%. Where is $AUDUSD heading? Find out from @JMcQueenFX here: https://t.co/odj2lLRrGf https://t.co/gmGjlGBvjv
  • #OOTT https://t.co/TLgP7dUqFv
Australia and New Zealand Fiscal Outlooks Overshadowed by Fed

Australia and New Zealand Fiscal Outlooks Overshadowed by Fed

2015-12-15 06:44:00
Daniel Dubrovsky, Analyst

Talking Points:

  • Australia and New Zealand released updated 2015-16 fiscal projections
  • Aussie, Kiwi Dollars little-changed as FOMC dominates the spotlight

Find Key Turning Points for the Australian and New Zealand Dollars with DailyFX SSI

The Australian and New Zealand Dollars showed a tepid response after their respective countries posted fiscal outlooks. Australia’s Treasury reported that the country’s 2015-2016 budget deficit is expected to widen to -A$37.4 billion compared to May’s -A$35.1 billion estimate. In addition, the 2016-2017 deficit will also widen to -A$33.7 billion compared to the prior estimate of -A$25.8 billion.

Australia’s unemployment rate is expected to be 6 percent by the second quarter of 2016, down from the May 6.5 percent forecast. At the same time, the nation’s GDP growth is expected to be around 2.5 percent in the second quarter compared to prior estimates of 2.75 percent. The inflation outlook has also been lowered to 2 percent in the second quarter from 2.5 percent.

In New Zealand, the Treasury forecasted a 2015-2016 budget deficit of -NZ$401 million. The prior forecast was a budget surplus of -NZ$176 million. In addition, the 2016-2017 budget surplus is expected to contract to -NZ$356 million from 1.5 billion. New Zealand’s 2015-2016 GDP growth forecast has been lowered to 2.2 percent from 2.9.

The currencies’ limited response likely stemmed from the announcements’ minor impact on near-term monetary policy expectations. The Reserve Bank of Australia maintained a neutral data-dependent outlook. The Reserve Bank of New Zealand recently signaled an end to its easing cycle. The elephant in the room remains Wednesday’s Fed interest rate decision in which the markets are pricing in an 81 percent probability of an interest rate hike.

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


News & Analysis at your fingertips.