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
EUR/USD
Bullish
Oil - US Crude
Mixed
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
Wall Street
Bullish
Gold
Mixed
GBP/USD
Mixed
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
USD/JPY
Bearish
More View more
Real Time News
  • Forex trading, which is the act of exchanging fiat currencies, is thought to be centuries old – dating back to the Babylonian period. Learn about the history of Forex here:https://t.co/ePTJlbUP7c https://t.co/fA7G42tGcH
  • Get your snapshot update of the of relative currency strength and exchange status from around the globe here: https://t.co/DmhBkd4B0k https://t.co/8cM3NQIvom
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/tEpCHQDoVW
  • A punny excerpt: “Already the exchanges between Mr. Barnier and his counterpart David Frost, have – apropos to his name – sent a chilling message about bilateral trade talks”. https://t.co/OkFCvUZs2H
  • #BritishPound May Fall on #Virus-Hit GDP Data, #Brexit Stalemate ⬇️ https://www.dailyfx.com/forex/fundamental/forecast/weekly/gbp/2020/08/08/British-Pound-May-Fall-on-Virus-Hit-GDP-Data-Brexit-Stalemate.html
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out: https://t.co/td5WA4hCZC https://t.co/BuFKivwj2h
  • There are many different types of forex orders, which traders use to manage their trades. While these may vary between different brokers, there tends to be several basic FX order types all brokers accept. Learn about different FX order types here: https://t.co/lIJdiz4xSz https://t.co/QXaLbmFSjd
  • The anti-risk Japanese #Yen may rise versus currencies like the $AUD and $NZD on US-China tensions and fiscal stimulus woes which sank the Nasdaq 100 at the end of last week. Get your #currencies update from @ddubrovskyFX here: https://t.co/Kw0fYCHEcw https://t.co/jiQBPpzat3
  • The #Dollar is down than 3% year-to-date with the index responding to trend support at multi-year lows. Here are the levels that matter on the $DXY weekly technical chart. Get your #currencies update from @MBForex here: https://t.co/MVnF5VDoeN https://t.co/TP2k8u9sXN
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here:https://t.co/Fkzk88Y5gm https://t.co/ioGWvplvt7
Australian Dollar Gains as Westpac Consumer Index Leaps

Australian Dollar Gains as Westpac Consumer Index Leaps

2017-02-15 00:27:00
David Cottle, Analyst
Share:

Talking Points:

  • The Australian Dollar got a lift against a generally stronger greenback thanks to a robust consumer confidence survey
  • Westpac’s Index on the subject leaped 2.3% in February
  • The lender said that strength was broad based

The Australian Dollar gained on Wednesday on signs that consumers in its home country might be much more ready to splurge.

The Westpac consumer confidence index rose 2.3% in February. That was hugely better than the tiny 0.1% upward twitch recorded in January. The survey makes good partner with the business sentiment indicator from National Australia Bank released a day earlier. It showed business confidence sitting pretty around nine-year highs in January.

Westpac’s index now stands at 99.6, above January’s 97.4. Westpac said the sub-indexes which contribute to the headline were broadly higher. It also called the rise a hopeful sign that retail sales’ soft patch has not extended into the New Year.

AUD/USD inched up to 0.76749, from 0.76679 before the Westpac survey saw daylight.

Small boost: AUD/USD

Australian Dollar Gains as Westpac Consumer Index Leaps

Chart Compiled Using TradingView

While the numbers coming out of the Australian economy certainly seem to have improved since the shock growth contraction revealed in December, it’s possible that interest rate differentials will start to assert themselves once more.

The US Dollar posted general gains in Tuesday’s US session. Federal Reserve Chair Janet Yellen said in testimony to the Senate Banking Panel that it would in her view be unwise to wait too long to raise interest rates again. Yellen said that even though the Fed still intends to raise rates gradually, getting them. back to more usual levels is important.

Market reaction was prompt, with US Treasury yields rising as the markets felt that a rate rise as soon as March was now more possible.

By contrast Australian rates remain at record lows, and are not forecast to rise anytime soon.

Want to get started in foreign-exchange market trading? Why not check out the DailyFX trading guides?

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter: @DavidCottleFX

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

DISCLOSURES

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.