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Australian Dollar

All articles tagged with #australian dollar

finance1 year ago

RBA Holds Interest Rate at 4.35%, Warns of Possible Further Hike

The Reserve Bank of Australia (RBA) has decided to keep the cash rate at 4.35%, as expected, while acknowledging that further interest rate hikes cannot be ruled out. Despite signs of easing inflation, it remains high at 4.1%, with goods price inflation lower than forecasted. The RBA remains attentive to inflation risks and uncertain economic outlook, emphasizing the need for sustainable movement towards the target range. The Australian dollar climbed slightly following the report, as the RBA's language indicated that a further interest rate increase is still a possibility.

via ForexLive|
#australian-dollar#cash-rate#finance
finance1 year ago

"AUD/USD Rebound Offers Bearish Opportunity Amidst Rate Cut Prospects"

The Australian dollar faces challenges as the RBA is expected to maintain its cash target, with market expectations leaning towards a potential rate cut by June. The currency's performance is also tied to developments in China, but with limited prospects for change in the near term. From a technical standpoint, the AUD/USD pair has formed a head-and-shoulders pattern, indicating a potential decline towards 0.6200, with the October low offering some support amidst a generally unfavorable outlook.

via ForexLive|
#audusd#australian-dollar#china
finance2 years ago

"China's fading optimism triggers global share drop and sends Aussie tumbling"

Global equities dropped as weak service sector data raised concerns about China's post-pandemic economy, while Australia's central bank kept interest rates unchanged, leading to a decline in the Australian dollar. European equity indexes opened lower, and Asian shares also fell. The recent rally in China shares is losing steam as a private-sector survey showed that China's services activity expanded at the slowest pace in eight months. Investors are hoping for more substantial policy stimulus from Beijing to stabilize the Chinese economy. The Australian dollar experienced its biggest daily drop in a month after the central bank's decision, and markets are pricing in a high chance of the Fed keeping rates unchanged this month.

via Reuters|
#australian-dollar#central-bank#chinas-economy
business2 years ago

Australia's Central Bank Surprises with Rate Hike, Signals More to Come

The Reserve Bank of Australia has raised its benchmark rate by 25 basis points to 4.1%, defying market expectations of a hold. The move comes as the central bank grapples with the latest inflation rate of 7% for the March quarter, with Governor Philip Lowe stating that while inflation may have "passed its peak," there are still indicators showing inflation persisting. The central bank's target for inflation is a range between 2% to 3%, and further rate hikes may be required to bring down the nation's inflation rate.

via CNBC|
#australian-dollar#business#economy
finance2 years ago

RBA surprises with rate hike, stocks drop and Aussie dollar rises.

Global shares fell ahead of the Federal Reserve's upcoming policy meeting, while the Australian dollar soared after the central bank stunned markets with a surprise interest-rate hike. Short-dated government bond yields shot up after the Treasury Department said it could run out of the cash it needs to pay its bills by early June. The Fed is expected to raise interest rates by a quarter of a point on Wednesday, but with so much anxiety around the tug-of-war over the government's debt limit, as well as the stability banking sector after the failure of a third U.S. lender in two months, money markets show investors think this will be the last hike.

via Reuters|
#australian-dollar#banking-sector#federal-reserve