wrapper

Aussie lower, but losses could be limited

Thursday, Dec 17 2015
There were no major data releases from Australia today. Australian dollar was relatively unshaken by the US Fed rate hike as a result of the subdued market reaction to the US Fed’s first interest rate. The muted response in the AU dollar is attributed to the tone of reassurance that further rate hikes will be “gradual” and will stay linked to the rate of inflation. According to Westpac senior currency strategist Sean Callow, the Australian dollar became stable as market attention turned to the Fed's statement that any further rate hikes would be "gradual."
 The US Fed reserve raised the target for main short-term rate by 25 basis points to the range of 0.25 to 0.50 percent, from the erstwhile 0 to 0.25 percent. The hiked prime rate now makes a range of loans costly that include business as well as credit card loans. However, its impact on Australian dollar was nil and it was relatively unshaken and stayed at Wednesday’s level of US72.06 cents. The declines started in the Asian session but are expected to remain limited.
 
Aussie is currently being traded around 0.7160 area. Pair is likely to find support around 0.71 handle and resistance above 0.7230 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.
More in this category: « Fed rose interest rates to 0.5% German Business Sentiment fell to 108.7 »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.