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
Bearish
GBP/USD
Mixed
USD/JPY
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
Gold
Bearish
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
Bitcoin
Bullish
More View more
Real Time News
  • RT @carlquintanilla: Blame the Fed. Blame tariffs. Blame GM. Blame Boeing. But US industrial production has fallen from 5.4% growth in Sept…
  • 🇺🇸 USD DOE U.S. Crude Oil Inventories (JAN 17), Actual: -405k Expected: N/A Previous: -2549k https://www.dailyfx.com/economic-calendar#2020-01-23
  • RT @QuickTake: JUST IN: The U.S. State Department says to reconsider travel to China, raises its advisory for the country to level 3 amid u…
  • RT @EconguyRosie: Today's decline in the Conference Board LEI, the downward revisions and the negative YoY trend leaves the outlook with tw…
  • 👀 https://t.co/h50XsheVmy
  • $RUT $RTY $IWM | Russell 2000 off its Jan 17 peak by roughly 2.25% #Stocks #StockMarket #Trading #TechnicalAnalysis https://t.co/05gcfNQj40
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.47% 🇦🇺AUD: 0.07% 🇳🇿NZD: -0.04% 🇨🇭CHF: -0.14% 🇬🇧GBP: -0.27% 🇪🇺EUR: -0.42% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/JAI7Vvb2et
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: US 500: -0.26% Wall Street: -0.37% France 40: -0.47% Germany 30: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/W0Akx48sao
  • Heads Up:🇺🇸 USD DOE U.S. Crude Oil Inventories (JAN 17) due at 16:00 GMT (15min), Actual: N/A Expected: N/A Previous: -2549k https://www.dailyfx.com/economic-calendar#2020-01-23
  • from wedge resistance to wedge support $EURJPY https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/01/18/Euro-Weekly-Forecast-EURUSD-Range-EURJPY-Wedge-Ahead-of-ECB.html https://t.co/bAGbxFR0M4
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

News & Analysis at your fingertips.