The Australian dollar climbed after the release of Australia’s employment data that showed an unexpected drop of the unemployment rate. The currency erased yesterday’s losses against most-traded rivals and managed to erase losses for the whole week versus the US dollar.
The Australian dollar did not change Monday’s direction on Tuesday, continuing to fall against other major currencies. The most important factors driving the currency were the dovish monetary policy outlook and mixed macroeconomic data in Australia’s biggest trading partner, China.
The Australian dollar started the trading week with losses against other most-traded currencies. The general market sentiment seemed to be relatively optimistic due to the positive news about the US-China trade negotiations. But trade data from China released on Monday did not look good, and that is one of the possible reasons for the weak performance of the Aussie.
The Australian dollar rose against other most-traded currencies today. With domestic macroeconomic data being a mixed bag, it is likely that the currency found outside support for its rally. Market analysts speculated that the Aussie gained on optimism about the US-China trade talks, though it is important to note that today’s headlines provided conflicting reports about the progress in the negotiations.
The Australian dollar rose today against other most-traded currencies. That is a surprising result considering that fundamentals looked very unfavorable to the currency. The sentiment of Australian consumers fell to the lowest level in four years. Washington announced fresh sanctions against Chinese companies just a day before trade negotiations between the United States and China resume.
The Australian dollar declined against most other major currencies today. Both domestic macroeconomic data and the general risk-off market sentiment were dragging the currency down. The risk sentiment suffered due to renewed concerns about the Sino-US trade talks.
The Australian dollar extended its bounce today, gaining against most major currencies with the exception of the Swiss franc. While the rebound was not enough to erase this week’s losses, it gives the Aussie a chance to avoid ending the week as the weakest currency. As for Australia’s macroeconomic data, it was mixed today, with the housing market recovering but retail sales missing expectations.
The Australian dollar was trading in the green during Thursday’s trading session. The trade data released in Australia today was unimpressive but that did not prevent the currency from rebounding after Tuesday’s big slump.
The Australian dollar sank after a dovish interest rate cut by the Reserve Bank of Australia. The news overshadowed a positive report about Australia’s manufacturing sector.
It looked like all fundamentals were negative for the Australian dollar today. That included the disappointing growth of private sector credit, the dovish monetary policy outlook, and the market sentiment that was unfavorable for riskier currencies. Yet surprisingly, the Aussie did not perform that bad considering all the negative factors. While it fell against some major rivals, the currency managed to gain on others.
