Aussie lower in an overnight trade

wrapper

News
Analysis
- Fundamental
  
  Daily fundamental analysis
  
  Weekly fundamental analysis
- Technical
  
  Daily technical analysis
  
  Weekly technical analysis
Charts
Basic terms
Education
Calendar
Contact

Friday, May 13 2016

There were no data releases from Australia, with Aussie being pushed below 0.73 handle.Throw into the mix the RBA on rate cutting mode, having to deal with low inflation prospects and a housing bubble about to burst, and the pressure on the Aussie continues to be justified as market participants price in all these AUD bearish elements into the price.

As opposed to previous sessions where the Aussie mirrored movements in the crude oil price, the slide came despite front-month West Texas Intermediate (WTI) futures closing at the highest level seen since early November. Instead, Elias Haddad, currency strategist at the CBA, put the Aussie’s decline down to hawkish remarks from two voting members from the US Federal Reserve’s FOMC, indicating an increased likelihood that a further US rate hike may be closer than what markets currently expect.

Aussie is currently being traded around 0.7280 area. Pair is likely to find support around 0.7250 handle and resistance above 0.7350 level. Later today, in the US session, Retail Sales, PPI and Consumer Sentiment figures will be released.

More in this category: « Unemployment Claims increased more than expected Eurozone GDP grew by 0.5% in Q1 »

Latest from Editor

Popular

UK still likely to leave the EU with a negotiated agreement, says Number 10
A successful deal with the European Union remains the “most…
Sentix Investors Confidence rose to 14.7 in August
The summer heat in Europe is also causing economic temperatures…
German factory orders -4.0% seasonally adjusted on the previous month
Based on provisional data, the Federal Statistical Office (Destatis) reports…
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
China's exports are expected to have maintained solid growth in…

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.

Menu

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.