The Australian Dollar (AUD) traded within a well-defined range against the US Dollar (USD) on Wednesday (July 9th), as markets digested the latest Fed Meeting Minutes and tariff-related headlines.
Although tariffs are set to take effect in August, lingering trade uncertainty continues to weigh on the US Dollar. The latest tariff letters were sent to countries including Libya, Iraq, and the Philippines on Wednesday.
At the time of writing, AUD/USD was trading around 0.6540, with strong resistance at 0.6550.
The minutes of the June Federal Open Market Committee (FOMC) meeting revealed that most policymakers remained cautious about lowering interest rates prematurely. However, many also acknowledged the potential for tariffs to exacerbate inflationary pressures.
On Tuesday, President Trump called for the immediate resignation of Fed Chairman Powell, urging his replacement with someone more inclined to cut interest rates. Speaking at the White House on Wednesday, Trump reiterated his position, stating that the US should have the "lowest interest rates in the world."
Despite the political rhetoric, the CME FedWatch Tool continues to reflect expectations of a September interest rate cut. With this projection largely priced in, AUD/USD showed little reaction to the Fed's report. (alg)
Source: FXstreet
The Australian Dollar (AUD) is under pressure against the US Dollar (USD) on Thursday, with AUD/USD down almost 0.50%, trading near 0.6510 at the time of writing. The pullback reflects broad Greenback...
The Australian dollar was little changed to around $0.654 on Thursday, holding its recent gains, supported by stronger-than-expected trade balance figures. Australia's goods trade surplus widened to A...
The Australian dollar was little changed to around $0.652 on Wednesday, after a 0.5% drop in the previous session, as strength in the US dollar offset upbeat domestic GDP data. The greenback held firm...
The Australian dollar weakened to around $0.654 on Tuesday, snapping a five-session winning streak, as investors paused amid a mix of domestic economic signals. Notably, Australia's current account de...
The Australian dollar appreciated past $0.654 on Monday, marking its fifth consecutive session of gains and its highest level in over two weeks amid a mixed set of domestic economic indicators. Notabl...
US stocks closed lower on Friday after weaker-than-expected August jobs data raised concerns about a slowing economy, even as expectations for Federal Reserve rate cuts firmed. The S&P 500 gave up earlier gains, ending 0.3% lower and below...
The U.S. dollar fell sharply against major peers on Friday after crucial monthly jobs data showed that American employers hired fewer workers than expected, which affirms weakening labor market conditions and likely guarantees a Federal Reserve...
Oil prices fell on Friday as a weak U.S. jobs report dimmed the outlook for energy demand, while swelling supplies may grow further after OPEC and allied producers meet over the weekend. Brent crude futures settled at $65.50 a barrel, down $1.49,...
US stocks rallied on Friday (September 5th), with the S&P 500 rising 0.4% and the Nasdaq gaining 0.6% to new record highs, while the Dow Jones...
Asia-Pacific markets opened higher Friday after U.S. President Donald Trump signed an executive order Thursday formalizing a lower Japanese auto...
Hiring at US companies was lower than expected in August, consistent with other evidence of weakening labor demand.
Private-sector jobs increased...
US applications for unemployment benefits rose to their highest level since June, adding to evidence that the labor market is cooling.
Initial...