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
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
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
Wall Street
Bullish
Gold
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
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
Bullish
More View more
Real Time News
  • US Equity Update (Wednesday Close) : $DJI +1.39% $SPX +0.64% $NDX +0.26% $RUT +1.91% $VIX -3.11%
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.02% US 500: -0.02% France 40: -0.19% Germany 30: -0.26% FTSE 100: -0.52% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/SSroFY3MUn
  • The S&P 500 is very near filling the coronavirus gap down on February 24, it only needs to go another 30 points to 3337 to complete the task. Get your S&P500 technical analysis from @PaulRobinsonFX here: https://t.co/WOWt3btE3X https://t.co/420GUgjBKP
  • Commodities Update: NYM WTI Crude 42.25 (+1.32%), ICE Brent Crude 45.27 (+1.89%), NYM NYH Gasoline 122.54 (+0.91%). [delayed]
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 3.22% Gold: 0.87% Oil - US Crude: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/OZAg17Ojqt
  • #Gold has rallied over $200/oz. since then and late Tuesday broke through $2,000/oz. with ease. Get your $XAUUSD technical analysis from @nickcawley1 here: https://t.co/377MlMYPwT https://t.co/i5fE0zpse4
  • Trump threatens to take executive action on certain relief efforts should congress fail to make a deal - Fox Business News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.96%, while traders in US 500 are at opposite extremes with 76.59%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/X22WA5Nxrx
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.04% US 500: 0.56% France 40: -0.11% Germany 30: -0.15% FTSE 100: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/H9HgvCLdlE
  • US Treasury Yields: 2-Year: 0.109% 3-Year: 0.125% 5-Year: 0.215% 7-Year: 0.391% 10-Year: 0.545% 30-Year: 1.224% $TNX
Australian Dollar Steady After Modest Corporate-Profits Beat

Australian Dollar Steady After Modest Corporate-Profits Beat

2017-06-05 01:49:00
David Cottle, Analyst
Share:

Talking Points:

  • The Australian Dollar didn’t move far despite higher-than-expected corporate profits
  • There was no repeat of 4Q’s bonanza, but that was commodity-price-based and unrepeatable
  • There’s a lot for AUD/USD investors to focus on this week

So, it’s your favorite currency. Who agrees? Check out our sentiment page for some idea of the company you’re in.

The Australian Dollar was steady Monday following news of higher-than-expected corporate profits in its home country.

Profits rose by 6% in this year’s first calendar quarter. That was above the 5% rise which markets were looking for. The previous period had been flattered by a surge in commodity prices which saw overall Australian profits up by more than 20%, boosted by mining-company outperformance. Nobody expected a repeat of that strong showing, but the fact that profits managed to push on by more than forecast is clearly an encouraging sign for Australia Inc.

Inventories also rose strongly, gaining 1.2% when a 0.5% rise had been expected. This may be a good sign for Australian Gross Domestic Product data. They are due on Wednesday.

Still, there wasn’t a huge data-specific reaction in AUD/USD. It had been creeping upward before the numbers and continued to do so after the release.

Australian Dollar Steady After Modest Corporate-Profits Beat

Still, the market is probably cautious as this week will offer many likely market-moving events, both from Australia and overseas.

Closest to hand, the Reserve Bank of Australia will announce its June monetary policy decision on Tuesday.

No change is expected. At present rate futures don’t price in any rise for Australia’s record-low 1.5% official cash rate this year and indeed well into 2018. That said, markets don’t expect rates to fall further either as RBA leaders have repeatedly worried that still-lower borrowing costs would only exacerbate the country’s high personal debt levels.

Get live coverage of major Asia/Pacific market movers, including Tuesday’s Australian interest-rate decision, at the DailyFX webinars

--- 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.