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
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
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
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
USD/JPY
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
More View more
Breaking news

President Trump formally announces beginning of process to terminate Hong Kong's special treatment status. Announces US will terminate relationship with the World Health Organization.

Real Time News
  • Update on #Cryptocurrencies #BITCOIN -0.31% #BITCOINCASH +0.70% #ETHEREUM +2.67% #RIPPLE -0.51% #LITECOIN +0.52%
  • This is perhaps one of the most relevant monthly charts to consider today: $USDCNY (the CNH only goes back to 2012) standing at the midpoint of its massive repricing effort from 2005-2014 https://t.co/un6ZITi643
  • Break out those monthly charts ladies and gentlemen. We have closed out May.
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.68% FTSE 100: 0.56% France 40: 0.48% Wall Street: 0.09% US 500: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/r2uWdXvJrn
  • "US Dollar, Nasdaq, Chinese Yuan React to Trump-China Presser" -via @DailyFX President Trump formally announces the United States will revoke Hong Kong’s preferential treatment amid escalating China tension. Where might $USD, $NDX, $CNH head next? Link: https://www.dailyfx.com/forex/market_alert/2020/05/29/usd-cnh-ndx-price-us-dollar-chinese-yuan-nasdaq-china-tension-trump-press-conference.html
  • The trio of central banks overseeing the commodity currencies have already cut their main rates to all-time lows. Get your market update from @CVecchioFX here: https://t.co/OSUXrN5P3j https://t.co/kYe8QpfX0K
  • Euro Breakout or Fake-Out? EUR/USD, EUR/JPY Surge to Fresh Highs https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/daily_fundamentals/2020/05/29/Euro-Breakout-or-Fake-Out-EUR-USD-EUR-JPY-Surge-JS-Euro-to-US-Dollar.html https://t.co/LHfiPGsEW4
  • Even the Hong Kong Dollar is up after that press conference...
  • Eminis treating that press conference like 'that was it?' Market seemed to have fully accounted for the HK special status situation
  • Trump: - Hong Kong is no longer sufficiently autonomous - Beginning the process to eliminate special treatments given to Hong Kong $SPX
Australian Dollar Slips With Westpac Consumer Confidence Index

Australian Dollar Slips With Westpac Consumer Confidence Index

2017-08-09 01:10:00
David Cottle, Analyst
Share:

Talking Points:

  • The Australian Dollar was already weaker following comments from Reserve Bank of Australia Deputy Governor Christopher Kent
  • News of weaker consumer confidence didn’t help
  • Westpac’s indicator showed a significant August drop-off

Get live, interactive coverage of all the major economic data which move the Australian Dollar at the DailyFX webinars.

An already-pressured Australian Dollar slipped further on Wednesday on news of weaker domestic consumer confidence.

August’s index from major lender Westpac came in at 95.5. That was well below July’s 96.6. The on-month decline of 1.2% was much worse than the 0.4% rise seen previously. Admittedly this monthly survey seems somewhat at odds with other looks at sentiment which have been more encouraging but, all the same, this big slip will keep investors closely focused on Australian consumption. This is also the ninth straight month in which the pessimists have outnumbered those more cheerful in Westpac’s snapshot.

Earlier the Australian Dollar had slipped following a speech from Reserve Bank of Australia Assistant Governor with responsibility for financial markets Christopher Kent. There was little for the market in his speech but answering questions later he said that a further rise in the currency would mean slightly lower domestic growth.

The RBA seldom loses a chance to worry about the effects of a higher currency on the domestic economy. However, it usually does so in the context of Australia’s transition away from reliance on its vast raw material sector. Mr. Kent’s explicit focus on general growth was a new development and markets will be on watch to see whether this is repeated by other RBA officials in the days and weeks to come.

Australian Dollar Slips With Westpac Consumer Confidence Index

--- 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.