The Aussie dollar continues to see a lot of choppy and noisy behavior as we are trying to sort out the overall global economy, and the potential issues in Asia as there are so many moving pieces at the moment.
- The U.S. dollar edged higher Thursday, but remained close to seven-month lows after the release of benign inflation data, while sterling rose after solid growth...
The U.S. dollar edged higher Thursday, but remained close to seven-month lows after the release of benign inflation data, while sterling rose after solid growth data. The figures added to cooler-than-expected producer prices earlier in the week, and suggest inflation is on a downward trend which would provide the Federal Reserve with headroom to start cutting interest rates. The next data point is U.S. retail sales later in the session, and will garner significant attention as consumption accounts for about two-thirds of U.S. economic growth.
General election and strikes were partially blamed for a flat June but growth was led by the services sector.
-- Most Asian currencies kept to a tight range on Thursday after clocking strong overnight gains as U.S. consumer inflation data read softer than expected and put the...
-- Most Asian currencies kept to a tight range on Thursday after clocking strong overnight gains as U.S. consumer inflation data read softer than expected and put the dollar close to a seven-month low.
-- Australia’s labor market grew much more than expected in July as strong job openings and record-high participation kept the sector running hot and contrary to the Reserve Bank’s expectations for a softer market.
The Aussie dollar rallied a bit in the early hours of the Wednesday session, as the markets look like they are trying to stretch above a resistance barrier. However, this is a market that looks a bit overstretched, so a bit of caution makes sense.
BofA Securities analysts have highlighted the Swiss National Bank's (SNB) recent intervention in the foreign exchange markets, which aimed to weaken the Swiss franc (CHF) amidst...
- The U.S. dollar steadied Wednesday, after overnight weakness, ahead of the release of the July consumer price index, while sterling weakened after benign inflation...