The Australian dollar climbed above $0.653 on Wednesday, marking its fourth straight session of gains, supported by a weaker US dollar and a hawkish outlook on Reserve Bank of Australia policy.
The greenback ran into some profit-taking in recent sessions following a strong rally, while investors awaited news on US President-elect Donald Trump's pick for Treasury Secretary. On the domestic front, minutes from the RBA's November policy meeting indicated that the central bank intends to maintain a restrictive monetary policy until it is confident that inflation is sustainably moving toward its target, while remaining vigilant about upside risks to inflation. However, the RBA stressed that it is not ruling anything in or out regarding future policy adjustments.
Currently, markets are pricing in a 37% chance of an RBA rate cut in February, and a 58% probability by April. A 25 basis point reduction to the 4.35% cash rate is not fully priced in until May.
Source: Trading economics
The Australian dollar (AUD) held strong at the start of the week after strong Australian inflation data, while the US dollar weakened as market sentiment grew cautious due to the US-Greenland dispute....
The Australian Dollar is the best performer among major currencies in an otherwise calm start tobe the year. The Aussie appreciates nearly 0.5% against the US Dollar in the daily chart, so far, buoyed...
The Australian Dollar (AUD) continued to strengthen against the US Dollar (USD) on Wednesday, posting gains for the third consecutive day. The AUD's strength was driven by the release of the Reserve B...
The AUD/USD currency pair is currently in a bullish consolidation phase, a brief pause in its uptrend, and is hovering around the 0.6600 level during the Asian session on Friday (December 5th). This l...
The Australian Dollar (AUD) rose and reached a three-week high against the US Dollar (USD) during Wednesday's Asian session. This rise occurred despite less-than-satisfactory Australian economic data....
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...