Australian shares on Wednesday extended its gains continuously for a fourth session, with the help of commodity-exposed stocks on firm crude and metals prices and as the investors placed bets on improving prospects for a global economic recovery. Yesterday, the International Monetary Fund raised its global economic growth forecast to 6% this year, a rate [...]
China's Negative surplus puts pressure on the Aussie. Also contributing to the Aussie's weakness could be the US dollar’s rebound. China’s Caixin Manufacturing PMI came in as 50.6 versus 51.3 forecasts and 50.9 prior. This gives a suggestion that the activity figures from Australia’s largest customer contrast the upbeat official readings published earlier in the [...]
Aussie seems to be boosted with the positive employment data and further Fed dovish announcement also acts as positive catalyst for AUD/USD. Australia’s Employment change showed a positive data while crossing 30K forecast and 29.1K prior with 88.7K whereas the Unemployment Rate dropped below 6.3% market consensus and 6.4% previous readouts to 5.8%. It should, [...]
Aussie falls after RBA Governor Philip Lowe’s speech during the early Monday. Although RBA’s Lowe tried to sell the Aussie government’s policies, his comments over inflation and employment seem to have weighed on the AUD. The Reserve Bank of Australia's governor Philip Lowe said on Monday that the central bank is doing what it can [...]
