Daily Exchange Rate Forecasts

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US NFP Disappoints, but USD Remains Strong

Monday, January 9th, 2017

Australian Dollar The Australian Dollar was on mixed form on Friday, despite the latest figures showing a surging trade balance in November. The ‘Aussie’ was down against the Canadian Dollar and US Dollar, but doing well against its other peers. Exports jumped by over AU$2 billion in November, taking the trade balance to AU$1243 million, [...]

BoE’s Haldane Weakens Sterling despite Rising Services PMI

Friday, January 6th, 2017

Yet more data favoured the Australian Dollar yesterday, keeping the ‘Aussie’ largely on the advance. The AiG performance of services index for December leapt higher, clocking in at 57.7 compared to November’s score of 51.1. Chinese PMIs were also supportive of the Australian Dollar, with the Caixin services and composite indices both posting notable rises. [...]

Euro Investors Unimpressed despite CPI Climbing to 39-Month High

Thursday, January 5th, 2017

As was the case on Tuesday, yesterday saw a combination of domestic and overseas developments lifting the Australian Dollar against many of its peers. There was a lack of Australian data, but the Westpac-MNI consumer sentiment figure for December climbed from 114.9 to 116.6. Meanwhile, last year’s better-than-anticipated recovery in commodity prices has seen experts [...]

AUD Bullish despite Strong US Manufacturing Data

Wednesday, January 4th, 2017

Positive domestic and overseas data boosted the Australian Dollar across the board yesterday. The December AiG performance of manufacturing index surprised forecasts of a slowdown from 54.2 to 52.2 after climbing to 55.4. The CoreLogic house price index, also for December, rose 1.4%. Meanwhile, the Caixin manufacturing PMI for China revealed that sector growth had [...]

Widened US Trade Deficit Strengthened AUD USD Exchange Rate

Friday, December 30th, 2016

Despite the commodity price rally starting to die back somewhat, the ‘Aussie’ remained on a stronger footing against many of the majors on Thursday. Hopes of a stronger Chinese economy and the prospect of increased infrastructure investment in the US have helped to keep the price of base metals buoyant. Although the heightened risk appetite [...]

Post-Christmas Risk Appetite Benefits Australian Dollar Rates

Thursday, December 29th, 2016

Confidence in the outlook of the Chinese economy improved in the wake of the Christmas break, encouraged by the latest domestic data. Signs of resilience within the world’s second largest economy prompted a rally in commodity prices, pushing the ‘Aussie’ higher as a result. Even though the longer term outlook of the antipodean currency remains [...]

AUD Falls as Heavy Smog Curbs Chinese Industry

Thursday, December 22nd, 2016

Heavy smog in China curbed industrial activity for the fourth day in a row, lowering demand for raw minerals such as coal and iron ore. One of the busiest ports in the country, Tianjin, has stopped handling non-liquid imports like minerals after many factories were ordered by the government to reduce their output. This has [...]

AUD/GBP Advances as Brexit Fears Weigh on Sterling

Wednesday, December 21st, 2016

While the Reserve Bank of Australia’s (RBA) December meeting minutes showed cautious optimism going forwards, news that a record number of bonds would be issued this year by the Treasury unsettled investors and kept the Australian Dollar mixed. The increase in the budget deficit forecast yesterday, combined with the number of already issued bonds approaching [...]

AUD Tumbles on Forecasts of Larger Government Deficit

Tuesday, December 20th, 2016

Dovish new budget forecasts from the Australian government caused the Australian Dollar to largely slump yesterday. A report suggested that a sluggish rise in wages and company profits would contribute to a widening of the public deficit by over -AU$10 billion by 2020; just one year before the government has vowed to balance public finances. [...]

Profit-Taking and Poor Housing Data Weaken USD

Monday, December 19th, 2016

The Australian Dollar had gotten over the excitement of Thursday’s positive labour market data by Friday. The prospect of several US interest rate hikes in 2017 undermined appetite for the ‘Aussie’, causing the commodity-correlated asset to slump. Additionally, Prime Minister Malcolm Turnbull has urged the Senate to approve his plan to cut corporation tax rates [...]

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