Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Australian dollar under US82.00 cents

ByFIBO Group
Published 12/16/2014, 03:56 AM
Updated 03/09/2019, 08:30 AM

The Australian dollar is trading slightly higher after today’s RBA minutes meeting where the bank reiterated they would like to see a period of stability in Interest rates pushing aside speculation of a rate cut next year.

At 4.50pm (AEDT) the local currency is trading at US 82.26 after falling to a fresh four and a half year low of US81.99 cents earlier today and up from US82.12 cents yesterday.

A 16 hour siege in Sydney ended yesterday with three people dead including the hostage taker which undermined the Aussie dollar as well as a further fall in oil prices.

Westpac senior market strategist Imre Speizer noted that these two events pressured the Aussie dollar pushing it to lt’s lowest level since July 2010,

“Oil failed to hold on to overnight gains with Brent crude slipping back to Friday’s lows of $US56.50. Equities continue to move in tandem with oil initially opening higher before giving up the gains later in the day,” he said.

More worrying signs emerged for the Chinese economy today as the HSBC flash PMI for China was released to the market coming in slightly under analyst’s expectations. The latest number came in at 49.5 against a consensus of 50 with a number generally under 50 seen as a contraction.

The Australian dollar is expected to come under further pressure as we head into Wednesday’s Interest rate decision and monetary statement from the Federal Reserve. There is more evidence mounting that the Fed needs to move on rates and with this expectation it doesn’t hold well for the Australian dollar claim analysts at Fibogroup forex brokers..

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.