Australian data puts pressure on Aussie, Kiwi heads north

Australian data puts pressure on Aussie, Kiwi heads north

On Tuesday, the Australian dollar headed south versus its American counterpart reacting to the publication of quite pessimistic Australian data. Another contributing factor was the major bank’s move, which made up its mind leave its interest rate intact. As for the New Zealand dollar, this commodity currency managed to inch up because the evergreen buck went down a bit.

The currency pair AUD/USD headed south 0.20% demonstrating an outcome of 0.7861. It has appeared to be the lowest reading of this pair since January 11.

On Tuesday, the Reserve Bank of Australia decided to leave its benchmark interest rate intact. Currently it accounts for 1.50%. The given move was generally anticipated by most market experts.

The decision emerged right after the Australian Bureau of Statistics informed that in December retail sales went down 0.5% versus hopes for a slump of just 0.2%.

According to a separate report, in December Australia's trade balance reached a A$1.36 billion deficit versus a surplus of about A$0.036 billion in November, whose figure was updated from a previously assessed deficit that accounted for A$0.63 billion.

Market experts had hoped that in December the trade balance would demonstrate a surplus of A$0.25 billion.

The currency pair NZD/USD managed to grow 0.39% being worth 0.7293, which is off a two-and-a-half week minimum of 0.7261 reached overnight.

At the same time the New Zealand dollar derived benefits from a retreat in the US currency because the evergreen buck took a breather having soared to an almost two-week maximum due to the previous week's firm American jobs report.

The U.S. dollar index that normally gauges the US dollar’s value versus a trade-weighted basket of six main rivals, headed south 0.15% demonstrating a reading of 89.44, which is off the almost two-week maximum of 89.58 hit overnight.

 

 

Similar

Latest news

German exporters don’t care about stronger euro

German exporters demonstrate ascending optimism as for their business prospects because growing demand from other euro zone countries helps to compensate worries regarding the strengthening currency, as the Ifo economic institute told on Wednesday…

Japan's October machinery orders tack on

In October, Japanese machinery orders rebounded with a faster soar than anticipated, thus re-affirming the resilience of capital spending, which is a major driver in the Japanese economy's almost two-year expansion…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera