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
Oil - US Crude
More View more
Real Time News
  • #Forex Forecast via @DailyFX: US Dollar Technical Outlook on $DXY, $AUDUSD, $USDCAD, $USDJPY & $EURUSD Full Analysis ⬇️ https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/11/17/usd-price-us-dollar-chart-forecast-dxy-audusd-usdcad-usdjpy-eurusd.html
  • Further escalation in Hong Kong will likely bode poorly for risk appetite https://t.co/0NjUd3ahBu
  • How should you trade around event risks and what steps can you take to improve your trading psychology? Find out from @JoelKruger, a trading consultant and mentor. Only on Global Markets Decoded. Missed the episode? Read up here:https://t.co/JWIGJk4vKa https://t.co/WB39x4GP99
  • Poll - Does your personality match your #tradingstyle? Vote and find out from @WVenketas here: https://t.co/vREsUIWSJd https://t.co/Ft0ExAmMpq
  • #Dow Jones hits record high, however, central bank liquidity prompts volatility implosion. #FTSE 100 among underperformers with focus remaining on politics. Get your #equities market update from @JMcQueenFX here: https://t.co/EOFleGSeBp https://t.co/ecAyfSUeAM
  • RT @C_Barraud: 🇪🇺 #ECB’s Muller Says More Assets Could Join Stimulus List in Slump - Bloomberg https://t.co/roGEgu0VTQ
  • With increasing volatility in weather patterns, how might storms, hurricanes and floods rattle the supply chain for petroleum-based products and impact crude oil prices? Find out from @JStanleyFX here:https://t.co/O4dgBl47fq https://t.co/OQYqZAYt9S
  • Currency Strategist,@PaulRobinsonFX is a Swing trader. What is your #tradingstyle? Take the quiz and let us know: https://t.co/LPBOcS0Vtd https://t.co/WzRYeqRhUL
  • Despite what your #tradingstyle is, you should be keeping a trading journal. How can you start keeping a trading journal? Find out: https://t.co/0akgWbyJEw https://t.co/4ehMlN4zv1
  • The Euro’s struggle to move higher against a range of currencies continues and without further support this is likely to continue into the year-end. Get your $EURUSD market update from @nickcawley1 here: https://t.co/myZ7R0eGUb https://t.co/12WJd53Cx4
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.

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


News & Analysis at your fingertips.