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, supported by safe-haven demand amid global economic uncertainty, renewed trade tensions, and geopolitical risks, while concerns over rising debt burdens across major economies further supported appetite for the dollar.
On the domestic front, Australia's economy grew 0.6% in Q2, surpassing expectations of 0.5% and accelerating from a revised 0.3% in Q1, marking the 15th straight quarter of growth.
Annual GDP also rose 1.8%, the fastest since Q3 2023, though investors remained cautious on the outlook, with market swaps showing over an 80% chance the Reserve Bank of Australia will hold rates steady later this month.
Elsewhere, the China-proxy Aussie also found support from stronger Chinese services data, climbing to its highest in 15 months and pointing to resilient demand in the region.
Source: Trading Economics
The Australian dollar (AUD) weakened slightly against the US dollar (USD) following the release of a number of economic data, but then stabilized on Friday. Recent data showed that business activity i...
The Australian dollar (AUD) moved cautiously as markets weighed the effects of the US government shutdown, which delayed the release of important macro data and obscured visibility ahead of the Fed's ...
The Australian Dollar (AUD) maintains its position against the US Dollar (USD) on Thursday, following the release of Trade Balance data. Additionally, the AUD/USD pair moves little as traders adopt ca...
AUD/USD extends its bull run for the fourth day in a row on Wednesday, reclaiming the area above the key 0.6600 barrier, always amid the persistent offered stance in the US Dollar as investors gauge t...
The Australian dollar edged lower to around $0.660 on Wednesday, ending its three consecutive session of gains, as investors digested soft economic data. Australia's manufacturing sector continued to ...
The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a lot of potential policy moves could accidentally spark another round of renewed inflationary...
If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with...
The bottom line: The release of official US data is delayed because the federal government is currently in shutdown. While the budget hasn't been...
European stocks extended gains on Friday, with the STOXX 50 up 0.4% and the STOXX 600 rising 0.3% to fresh record highs, as optimism around...
The business activity in the US service sector stagnated in September, with the Institute for Supply Management's (ISM) Services Purchasing Managers...
Asia-Pacific markets opened mostly higher Friday, tracking Wall Street gains as investors shrugged off the U.S. government shutdown.
Investors are...