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.

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
EUR/USD
Bearish
Oil - US Crude
Bearish
Wall Street
Bullish
Low
High
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
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/roqwTv3eyP
  • Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/ghcFd5ufaD
  • Traders tend to overcomplicate things when they’re starting out in the forex market. This fact is unfortunate but undeniably true. Simplify your trading strategy with these four indicators here: https://t.co/fYgcMxImlP https://t.co/kkekBVYvhV
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/VwIkOMpvYl
  • “The UK and EU have agreed to return to the negotiating table to try to agree a post-#Brexit trade deal. But on Friday, a joint statement said ‘significant divergences’ remained.” - BBC News #GBP
  • Multiple time frame analysis follows a top down approach when trading and allows traders to gauge the longer-term trend while spotting ideal entries on a smaller time frame chart. Learn how to incorporate multiple time frame analysis here: https://t.co/Sy3g6HGLrR https://t.co/aRfVCRZut3
  • Forex sentiment analysis can be a useful tool to help traders understand and act on price behavior. Learn how to get the most out of understanding trader sentiment here: https://t.co/rJznrXkcYz https://t.co/uUh18lR3yK
  • The rising wedge is a popular reversal pattern that is predictive in nature and can give traders a clue to the direction and distance of the next price move. Incorporate the rising wedge in your trading strategy and learn more here: https://t.co/zTTk2WOrj9 https://t.co/q5oBalZieU
  • Both the S&P 500 and $EURUSD will enter the coming week with momentum to their back. What can trip up the rallies? What could keep them going? My overview for the week ahead: https://www.dailyfx.com/forex/video/daily_news_report/2020/12/05/SP-500-and-EURUSD-Rallies-Face-Different-Conviction-Questions-.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/YfEXEhkbhl
  • After the recent strength of EUR/USD, a period of consolidation is likely ahead of two critical meetings: of the European Central Bank and the European Council. Get your $EURUSD market update from @MartinSEssex here:https://t.co/Slu7tHo2a4 https://t.co/9am4szeia1
Aussie Dollar Fails to Hold Gains, Shrugs Off Credit Data

Aussie Dollar Fails to Hold Gains, Shrugs Off Credit Data

2016-12-30 04:36:00
David Cottle, Analyst
Share:

Talking Points

  • Australian private sector credit expanded strongly but as expected in November
  • Housing and business credit outpaced the personal sector
  • AUD/USD gained, then weakened as a generally strong US Dollar-selling impetus faded

The Australian Dollar has weakened a little against its US cousin on Friday, showing little apparent response to news of an as-expected expansion in local private-sector credit.

Credit rose 5.4% on-year in November, according to the Reserve Bank of Australia, which was about what markets were looking for and just a tick above October’s 5.3% rise. On a monthly basis credit was up 0.5%, which was the same rise as that seen the month before.

Credit for housing purchase rose 6.3% on-year, while business credit added a healthy 4.9%. Personal credit extension was less impressive, however, as it often can before the Holiday Season kicks in. It increased by 1.2%.

The Australian Dollar initially continued to rise after the data. However, given a generally weaker greenback in what are clearly holiday thinned markets, it’s doubtful that the numbers played much part in the move.

The US Dollar had strengthened against just about everything since Donald Trump’s shock November election win, and it looks as though some of the big bets on it have come off into the New Year holiday weekend.

The euro is perhaps the most obvious beneficiary of this process, but the Australian Dollar has gained too.

However, as Friday wears on in Asia it looks as though the impetus to sell the US currency has faded, and the Australian Dollar has duly retraced in the past hour or so. AUD/USD is now at 0.72297, below the 0.722450 peak reached earlier in the session.

AUD/USD out of puff

Aussie Dollar Fails to Hold Gains, Shrugs Off Credit Data

Chart compiled using TradingView

Want to know how Daily FX analysts feel about 2017’s first quarter? Check out their forecasts here.

--- Written by David Cottle, DailyFX Research

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

DISCLOSURES