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Australian Dollar Down on Chinese Data

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Date: April 7th, 2017.

Disappointing Chinese data prompted increased bullishness for the ‘Aussie’, putting fresh downside pressure on commodity prices. Risk appetite was also weakened by surprisingly hawkish Fed meeting minutes and worries ahead of the first meeting between Chinese president Xi Jinping and Donald Trump. Altogether there was little reason for markets to favour the Australian Dollar on [...]

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A strong performance of service index from AiG for March boosted the Australian Dollar higher against most of the majors yesterday, but the ‘Aussie’ was unable to find any particular strength. Markets were awaiting the latest US data and the Federal Open Market Committee (FOMC) meeting minutes before deciding how to position on certain currencies, [...]

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Policymakers maintained a cautious outlook at the Reserve Bank of Australia (RBA) meeting, prompting the ‘Aussie’ to trend lower across the board. While the central bank is not likely to return to an easing bias, given worries surrounding the overheating housing market, the prospect of an interest rate hike remains distant. This undermined confidence in [...]

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A modest uptick in the TD Securities inflation forecast failed to shore up the ‘Aussie’ on Monday, with the mood towards the antipodean currency fast souring. Investors were discouraged by an unexpected contraction in retail sales, which suggested that consumer confidence remains weaker. With the appeal of higher-risk currencies generally limited there was little particular [...]

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The Australian Dollar was left directionless on the currency markets yesterday, making only slight gains against the majority of its peers and slipping below opening levels against others. Investors were on hold as Cyclone Debbie – declared a ‘catastrophe’ by the Insurance Council of Australia – was battering the east coast of Australia. Although experts [...]

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The world’s safe-haven assets were performing well yesterday, giving the Australian Dollar a chance to notch up noticeable gains versus most of its peers. There was no domestic data released, but with the Euro and Pound both rocked by the official beginning of Brexit and the US Dollar remaining directionless, markets were betting on riskier [...]

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Strong US Data Triggers AUD Losses

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Date: March 29th, 2017.

Even though the latest Australian consumer confidence measure showed an improvement on the week, this was not enough to boost the ‘Aussie’. A general sense of risk aversion weighed heavily on the antipodean currency, with markets still cautious over the prospect of the US delivering on promised infrastructure investment. With commodity prices still under pressure, [...]

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Investors fled from risky assets yesterday. Markets continued to react to the recent withdrawal from Congress of Donald Trump’s bill aimed at replacing the Affordable Care Act (ACA). With Trump unable to pass the new legislation, despite his party holding a majority in both the lower and upper houses, has raised the possibility of his [...]

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The domestic data calendar was empty on Friday, leaving the Australian Dollar on mixed form. Despite a couple of minor gains versus weaker currencies, the ‘Aussie’ was largely edging below opening levels. Markets were awaiting the US vote on President Donald Trump’s replacement for the Affordable Care Act (ACA), which was seen as a litmus [...]

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Lacking anything in the way of supportive domestic data the ‘Aussie’ softened on Thursday. The appeal of the currency has remained muted in the wake of the more cautious note struck by the Reserve Bank of Australia (RBA) in its meeting minutes. Copper prices have come under pressure as market doubts over the Trump administration [...]

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