Australian dollar inches down

Australian dollar inches down

On Friday, the Australian dollar headed south versus its American counterpart in Asia due to the fact that the Reserve Bank of Australia had its GDP surge estimate for the year through June slashed.

In its quarterly statement on Monetary Policy, Australia’s key financial institution had the GDP surge estimate reduced from 3.25% to 2.5%.

For the year to June 2020, Australia’s major bank diminished its estimate from 3.25% to 2.75%. What’s more, it expects 2021 surge at about 2.75%. As for unemployment, it’s anticipated to stay at 5% this year, intact from its current reading.

As for inflation, the headline CPI estimate was diminished to about 1.25%.

The currency pair AUD/USD headed south by 0.3% concluding the trading session at 0.7077 after the news. This week the Australian dollar has lost about 2.4% of its market value.

In addition to this, the evergreen buck demonstrated a two-week maximum, underpinned by safe-haven demand, right after this week US leader told that he didn’t plan to meet with his Chinese rival Xi Jinping before a March 1 deadline to make a trade deal.

Larry Kudlow, White House economic advisor told that there’s rather a sizable distance to go before America and China could come to a compromise. At the same time, this week Treasury Secretary Steven Mnuchin stressed that a wide array of issues still needs to be worked out.

The United States and China have until the beginning of March to strike a long-awaited trade deal before extra levies on China’s imports kick in.

Evaluating the purchasing potential of the US currency versus a number of its main peers the USD index was worth 96.345, heading north by up to 0.1%.

Besides this, the currency pair USD/JPY slumped by nearly 0.08% ending up with a reading of 109.70.


Turkey has Decreased Interest Rates, But is it a Buy?
Turkey has Decreased Interest Rates, But is it a Buy?

Turkey’s central bank governor was at a crossroads: to hold interest rates and take a risk to be fired like it was for three governors before him, or to comply with the president, to cut rates, and to risk the market. Let’s find out, how to react to the rate cut.

Latest news

Will USD Stop Falling Today? Market Wrap
Will USD Stop Falling Today? Market Wrap

The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong. 

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

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

Beginner Forex book

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