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
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.41%, while traders in US 500 are at opposite extremes with 78.13%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/zwiEeGWqsC
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: -0.04% 🇯🇵JPY: -0.09% 🇳🇿NZD: -0.13% 🇪🇺EUR: -0.19% 🇬🇧GBP: -0.31% 🇦🇺AUD: -0.38% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/BvewuY23QZ
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.05% France 40: -0.08% Wall Street: -0.12% FTSE 100: -0.18% US 500: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/wzqg2S1F14
  • Wall Street Futures Update: S&P 500 (-0.225%) Dow Jones (-0.126%) Nasdaq Composite (-0.194%) [delayed] -BBG
  • The US Dollar is attempting to find direction against the Singapore Dollar, Philippine Peso and Indonesian Rupiah as technical levels hold. The Malaysian Ringgit eyes a key trend line. Get your market update from @ddubrovskyFX here:https://t.co/lcSLkOnJgQ https://t.co/u3JfwxpCvh
  • The $USD is falling against #ASEAN currencies such as the Singapore Dollar and Indonesian Rupiah as stock markets rise. Watch out for US-China escalation and Brexit talks. Get your market update from @ddubrovskyFX here:https://t.co/PziC8KZaIC https://t.co/cQWfmGnb4H
  • (Commodities Briefing) #Gold prices sank as #ADP estimated a smaller contraction in jobs ahead of #NFPs. #CrudeOil prices may fall with the OPEC+ meeting in doubt as #WTI left behind a Doji candlestick #OPEC - https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/commodities/2020/06/04/Gold-Prices-Sink-Crude-Oil-Risks-Falling-with-OPEC-Meeting-in-Doubt.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/fjAnPB3Rc1
  • Seasonal factors, oversupply issues and the outbreak of COVID-19 has seen the price of liquefied #naturalgas (LNG) fall to 22-year lows (1.519), with the situation exacerbated by ‘fuller-than-normal’ storage facilities. Get your market update here:https://t.co/VOqfkBQ4aR https://t.co/fvyX0wfWcg
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.34% Silver: -0.33% Oil - US Crude: -1.80% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/VFJfH2lsYE
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.00% 🇨🇭CHF: -0.05% 🇳🇿NZD: -0.07% 🇨🇦CAD: -0.12% 🇬🇧GBP: -0.25% 🇦🇺AUD: -0.27% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/9wAQM4BGpE
Aussie Dollar Reslient as Consumer Confidence Wilts

Aussie Dollar Reslient as Consumer Confidence Wilts

2016-12-14 00:17:00
David Cottle, Analyst
Share:

Talking Points

  • Australian consumers are heading into the holiday season in less-than-festive mood
  • The Westpac indicator for December registered a big fall
  • But the Fed-watching Aussie Dollar didn’t move much

The Australian Dollar was steady on Wednesday despite yet another piece of soft economic data out of its home country.

The closely watched consumer confidence index from local banking major Westpac came in at 97.3 for December, a fall of 3.9%. November’s had been 101.3, a fall of 1.1%. This news comes hard on the heels of a woeful official growth print for the year’s third quarter and will do nothing to raise hopes that the fourth quarter stands to show much improvement.

The data will also be chilling for retailers as they show consumers in grim mood as the crucial holiday sales period looms. 97.3 is the lowest print for this index since April, and makes October’s 102.4 look like something of a peak.

However, with Australian markets currently as fixated on the US Federal Reserve as all the rest, the data didn’t cause the Australian Dollar much of an immediate problem. Similarly gloomy results on analogous sentiment surveys may have also dulled the impact of this particular release. AUD/USD actually ticked higher in the aftermath, but the cross remains pinned under the 0.75 handle.

The confidence data won’t dent the thesis that more Australian interest rate cuts could be coming, but the Reserve Bank of Australia may decide to let the Fed do some of that lifting for it. After all, the higher US rates widely seen as coming this week will burnish the US Dollar’s comparative charms.

Unfazed by yet more patchy data: AUD/USD

Aussie Dollar Reslient as Consumer Confidence Wilts

Chart compiled using TradingView

Get Daily FX analysts’ views and learn more about trading. Here are our webinars.

--- Written by David Cottle, DailyFX Research

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

DISCLOSURES

News & Analysis at your fingertips.