Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Fundamental Analysis
Australian dollar above US80c means trouble
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="FIBO_Group, post: 132699, member: 38180"] The Australian dollar made a run for the US81c mark in today’s trading session following on from yesterday’s gains on the back of a dovish statement from the US Federal Reserve. At 1.06pm (GMT) the Aussie dollar was trading at US80.15c after reaching a high of US80.69c earlier in the trading session. The Australian dollar’s recent gains have been at the expense of US dollar weakness, which was exasperated yesterday when US Fed President Janet Yellen raised concerns over the health of the US economy and seemingly took an interest rate hike off the table for the foreseeable future. This caused investors to dump the greenback but some believe it’s too early to call and the chance of further rate hikes by the Fed this year is a distinct possibility and should a strong round of data from the US hit the market within the next month the Fed’s outlook could change dramatically. noted ThinkMarkets UK chief analyst Naeem Aslam "However, this could change rapidly because all what it takes is just a couple of strong economic reading and these Fed fund rate will show a completely different percentage." he added. With the Australian dollar above US80c, problems in the local economy are likely to develop such as the rising cost of exports, which will make Australian goods uncompetitive with their foreign rivals, which may cause the government to step in. “The higher dollar also adds unavoidable costs to many businesses at a time when rising energy costs are cutting deeply into margins,” said Australian Industry Group chief Innes Willox. “Governments need to redouble their efforts to agree on policies that will put downward pressure on energy costs that are eye-wateringly high to help mitigate to dollar cost impact.” He added. [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…