Australian dollar drops on trade data and Caixin services

Australian dollar drops on trade data and Caixin services

On Thursday, the Australian dollar sank in Asia, with trade data weighing moderately along with China Caixin PMI figures. Additionally, the market looked ahead to end of the week nonfarm payroll data following a Fed review on rates, which might confirm a highly anticipated June lift.

Measures the greenback’s value against a basket of currencies, the US dollar index lost 0.04%, trading at 99.22. 

The currency pair AUD/USD showed 0.7409, slumping 0.19%. As for USD/JPY, the pair got to 112.88, rising 0.12%.

As China states, April’s Caixin services PMI sagged to 51.6. In March, Australia’s trade balance was  A$3.107 billion, and it’s less than the A$3.4 billion surplus observed.    

Overnight, the Fed left its benchmark rate intact, keeping within 0.75-1%.

As for jobs and inflation, the Fed told that the labor market kept strengthening as job gains turned to be solid enough in recent months while inflation kept running below 2%.

The US major bank repeated its view that monetary policy will still be accommodative to underpin both an uptick in labor market conditions as well as a sustained return to 2% inflation.

Similar

Aussie and Kiwi ascend

On Tuesday, the Australian and New Zealand dollars edged up versus their American rival notwithstanding the publication of dismal Australian data because market sentiment on the US currency turned to be vulnerable ahead of the Fed’s last policy gathering…

Greenback is steady with focus on Fed gathering

On Tuesday, the evergreen buck was sturdy enough keeping to two-week maximums against a basket of key currencies, with market participants waiting for the Fed’s policy gathering this week for new catalysts…

Bitcoin futures overleap $18,000

On Monday, the world’s craze for cryptocurrencies entered a fresh chapter as bitcoin futures shockingly ascended by one-fifth of their market value at a closely-monitored launch…

Popular

promotions you can be interested in

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

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