Breaking News
0

Forex - Aussie Dollar Falls After National Australia Bank Hikes Home Loan Rates

ForexJan 23, 2019 11:41PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

Investing.com - The Australian dollar fell against the U.S. dollar on Thursday in Asia after one of the Australian top 4 big national banks, the National Australia Bank (NAB), raised the home loan rates.

The bank said in a statement today that it would increase its standard variable mortgage rate for owner-occupier principal and interest (P&I) customers by 12 basis points to 5.36%.

The NAB was the only one of Australia’s Big Four banks to not lift its mortgage rates last September. The standard variable mortgage rates at the Commonwealth Bank, Westpac and ANZ currently stand at 5.37%, 5.38% and 5.36% respectively.

The news sent the Aussie dollar lower as a rate hike is bad news on the country’s indebted households. The AUD/USD pair last traded at 0.7108 by 12:13 AM ET (05:13 GMT), down 0.5%.

The Australian currency traded higher earlier in the day after data showed its economy added 21.6k jobs in December, beating the estimate of 18.0k.

Meanwhile, the U.S. dollar index was little changed at 95.792 as investors remained cautious amid the ongoing U.S. government shutdown and global economic growth concerns.

On Monday, the International Monetary Fund (IMF) cut its 2019 and 2020 global growth forecasts, citing multiple threats including a bigger-than-expected slowdown in China and the risks of a “no deal” Brexit.

The USD/JPY pair was unchanged at 109.57 after the Bank of Japan kept its policy unchanged on Wednesday.

Elsewhere, the USD/CNY pair edged down 0.1% at 6.7859. The People's Bank of China (PBOC) has set the yuan reference rate at 6.7802 today vs the previous day's fix of 6.7969.

Forex - Aussie Dollar Falls After National Australia Bank Hikes Home Loan Rates
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments
Puck roger
Puck roger Jan 24, 2019 1:40AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
im long, let's just see what happens
Reply
0 0
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email