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
EUR/USD
Bearish
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
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • 💶 Consumer Confidence Flash (SEP) Actual: -13.9 Expected: -14.6 Previous: -14.7 https://www.dailyfx.com/economic-calendar#2020-09-22
  • 🇺🇸 Existing Home Sales MoM (JUL) Actual: 2.4% Expected: 2.4% Previous: 24.7% https://www.dailyfx.com/economic-calendar#2020-09-22
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.45%, while traders in NZD/USD are at opposite extremes with 68.19%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/p5OuRi74U6
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.78% Gold: -0.08% Silver: -1.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/IAVwDXVRQV
  • Latest RBNZ decision due in the early hours (03:00BST) - Don't expect fireworks, given last months easing package - Past three meetings have seen NZD drop 0.5-0.8%. - Cycle of post RBNZ Kiwi selling may reverse with Orr appearing less concerned over $NZD https://t.co/06ScYdcvBB
  • After yesterday’s risk aversion, it appears that a turnaround Tuesday is in order as European equities and US futures recover slightly, led by the tech space. Get your market update from @JMcQueenFX here: https://t.co/5Ao8aqSFhE https://t.co/JZGdLMC1IN
  • Heads Up:🇺🇸 Fed Evans Speech due at 14:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-22
  • Heads Up:🇺🇸 Existing Home Sales MoM (JUL) due at 14:00 GMT (15min) Expected: 2.4% Previous: 24.7% https://www.dailyfx.com/economic-calendar#2020-09-22
  • Heads Up:💶 Consumer Confidence Flash (SEP) due at 14:00 GMT (15min) Expected: -14.6 Previous: -14.7 https://www.dailyfx.com/economic-calendar#2020-09-22
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.30% FTSE 100: 0.90% France 40: 0.72% US 500: 0.49% Wall Street: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/FZK4kbEVcr
AUD/USD Extends Drop as RBA Frets About Housing, Labor Markets

AUD/USD Extends Drop as RBA Frets About Housing, Labor Markets

2017-04-18 03:43:00
Varun Jaitly,
Share:

Talking Points:

  • AUD/USD briefly rose before extending intraday drop on minutes from April RBA meeting
  • RBA sees housing market risks as property price growth outpaces wage gains in some areas
  • Recent rise in the unemployment rate to 5.9 percent, decline in consumer confidence noted

What do retail traders’ AUD/USD bets hint about coming price moves?Find out here!

The Australian Dollar briefly popped up 0.12 percent before resuming its intraday down trend lower following the release of minutes from the Reserve Bank of Australia’s April policy meeting.

The comments focused on some of the risks facing the Australian economy, such as a weaker than expected labor market. The unemployment rate increased to 5.9 percent in February while other labor market indicators pointed to weaker wage growth.

Household consumption was observed as weaker than expected, with retail sales falling “slightly” in February. Consumer confidence was also observed to be dropping “below-average levels”. Inflation from the retail sector has been largely subdued, with the RBA maintaining their forecasts for rents and prices to grow marginally at most.

According to the meeting minutes, housing credit continues to outperform household incomes, which the RBA suggests is a sign of rising housing market risks. The bank noted recent macro-prudential measures taken to stem risk from the housing market, but acknowledged the impact of these decisions might take some time to be observed.

The release also noted RBA expectations for gradual inflation growth, with prices expected to pick up to above 2 percent over 2017. However, labor cost measures and wage growth continue to be subdued, weighing down on overall price growth trends.

The RBA felt that given current conditions in the labor market, the housing sector and subdued inflation growth, holding monetary policy at current levels would be best for consistent growth.

AUD/USD Extends Drop as RBA Frets About Housing, Labor Markets

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

DISCLOSURES