The Australian Dollar (AUD) remained steady after Australian Treasurer Jim Chalmers presented the 2025/26 budget and the Treasury's key economic forecasts before Parliament on Tuesday, including new tax cuts, with two rounds totaling approximately A$17.1 billion.
Australia's budget deficit is projected at A$27.6 billion for 2024-25 and A$42.1 billion for 2025-26. Australia's GDP is expected to grow by 2.25% in fiscal year 2026 and 2.5% in fiscal year 2027. The tax cuts are likely aimed at bolstering political support.
The AUD finds support as investors anticipate the Reserve Bank of Australia (RBA) keeping interest rates unchanged in April, following its first rate cut in four years in February. Additionally, expectations of Chinese stimulus continue to bolster the Australian economy, given the strong trade ties between the two nations.
Still, the risk-sensitive AUD/USD pair could face potential headwinds as traders remain cautious amid uncertainty over US President Donald Trump's tariff announcement scheduled for April 2. While Trump hinted that "a lot" of countries could receive exemptions, the details of his administration's tariff plans remain unclear.
Source: FXStreet
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...