Westpac-Melbourne Institute — News Archive

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Australian Dollar Rises Despite Drop of Consumer Confidence to 4-Year Low, Escalating US-China Trade War

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.

Aussie Falls Following Leading Index

The Australian dollar performed similarly to its New Zealand counterpart today, falling due to the mix of negative market sentiment and unfavorable domestic macroeconomic data.

Australian Dollar Rallies on Signs of Improving US-China Relations

The Australian dollar rallied today, rising for the eighth session versus the Japanese yen, after signs that the US-China relations are improving. That spurred hopes that the trade conflict between the two world’s biggest economies can end in the foreseeable future. And optimism increased demand for riskier high-beta assets.

Aussie Rallies on Risk Sentiment, Rising Leading Indicators

The Australian dollar gained today as both domestic macroeconomic data and the general market sentiment were positive for the currency.

Positive Domestic Data Unable to Help Australian Dollar

The Australian dollar fell today, joining its New Zealand peer in decline. While domestic macroeconomic data was good, it was not enough to outweigh the impact of disappointing economic indicators released in China, Australia’s biggest trading partner.

Aussie Firm Despite Domestic & China’s Data

The Australian dollar was firm today despite poor macroeconomic data, both domestic and in China, Australia’s biggest trading partner. The possible reason for the rally was profit-taking after yesterday’s huge slump. The currency fell against some rivals intraday but has erased losses against all of them by now.

Australian Dollar Remains Soft After Domestic, China’s Data

The Australian dollar continued to demonstrate weakness as risk appetite was slowly coming off markets. Domestic macroeconomic data was weighing on the currency further as the consumer sentiment deteriorated sharply. And while China’s consumer inflation was accelerating, painting a positive picture of the economic health of Australia’s biggest trading partner, that led to concerns that Beijing may withdraw stimulus if prices continue to rise at a fast pace.

Australian Dollar Shows Resilience Facing Adverse Fundamentals

The Australian dollar was surprisingly strong today despite adverse fundamentals, which were including poor macroeconomic data, the negative market sentiment, and the dovish monetary policy outlook.

Aussie Under Pressure from Wage Inflation Miss, Chinese News

The Australian dollar was under pressure today from the wage inflation miss. News from China did not do the currency any favors either.

Australian Dollar Mixed After Positive China’s GDP

The Australian dollar was mixed on Wednesday. The currency was flat against such rivals as the US dollar and the Japanese yen after swinging back and forth between gains and losses, fell versus the euro, but gained on the Swiss franc.

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