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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Heads Up:🇧🇷 Interest Rate Decision due at 22:00 GMT (15min) Actual: 6.25% Expected: 6.25% Previous: 5.25%
  • But ,how do you really feel?
  • Central Bank of Brazil sees an additional 100 bps rate hike in October - BBG
  • Brazilian Central Bank hikes 100bps as expected. We have to split hairs for 'hawkish/dovish' in the Fed's views. Pretty straightforward here...
  • Central Bank of Brazil: - Raises Selic rate by 100 basis points to 6.25% - BBG
  • ARKK Innovation (ARKK), the EFT created by Cathie Wood that epitomizes disruptive growth investing, has trended downwards since Sept. 7 after failing to clear resistance in the 126.50 area. Get your market update from @DColmanFX here:
  • Speaking of monetary policy changes, the Brazilian central bank is due to announce its updated policies and the economist consensus is for a 100bp hike to 6.25%. Keep an eye on $USDBRL. Scenario with the most market-moving potential in my book would be a hold and USDBRL rally
  • The implied rate hikes from the Fed through the end of next year (Dec 2022 vs current Fed Fund futures contracts) jumped after today's FOMC report. Goes a long way towards explaining the $DXY Dollar jump here
  • Heads Up:🇧🇷 Interest Rate Decision due at 21:00 GMT (15min) Expected: 6.25% Previous: 5.25%
  • The corrective pullback still seems to be in play but the drop below 109.00 has been in the works for too long now, which is a sign of concern for bears. Get your $USDJPY market update from @HathornSabin here:
Australian Dollar Slips With Westpac Consumer Confidence Index

Australian Dollar Slips With Westpac Consumer Confidence Index

David Cottle, Analyst

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.