Markets

The Australian dollar slides again as crude oil prices plunge

The Australian dollar fell against most of the major crosses again on Tuesday, weighed down by another plunge in crude oil prices. The US Federal Reserve will announce its December interest rate decision today. Markets are 70% priced for a 25 basis point hike. China’s three-day Central Economic Working Conference […]
The Australian dollar slides again as crude oil prices plunge
Markets

The Australian dollar fails to jump despite weakness in the greenback

The Australian dollar traded in an incredibly small range against the greenback to start the week. Soft US economic data, and a tweet from Donald Trump, ensured the broader theme for the session was US dollar weakness. There’s not much on the economic calendar on Tuesday to drive market direction. […]
The Australian dollar fails to jump despite weakness in the greenback
Markets

UBS warns the era of US dollar ‘exceptionalism’ will soon be over

The US dollar has been the comeback story of 2018, recovering after significant weakness in 2017. UBS doesn’t expect its recovery will last, suggesting the era of US dollar “exceptionalism” will soon be over. It outlines for specific factors that look set to weigh on the US dollar index (DXY) […]
UBS warns the era of US dollar ‘exceptionalism’ will soon be over
Markets

The Australian dollar remains pressured as global growth concerns intensify

The Australian dollar fell sharply on Friday, undermined by renewed concerns about the outlook for the global economy following weak data from China and Europe. The AUD/USD has opened Monday’s session near the lowest level since early November, having shed 3% since December 4. Australia’s mid-year budget update will be […]
The Australian dollar remains pressured as global growth concerns intensify
Markets

‘An inherently volatile and thematically unstable environment’: ANZ Bank warns 2019 will be another wild ride for currency markets

2018 has been a challenging year currency traders and investors. ANZ Bank says 2019 “looks like it has the potential to make 2018 look like it was straight forward”. . The bank’s FX strategy team expects an “inherently volatile and thematically unstable environment”. ANZ doesn’t expect emerging market currencies will […]
‘An inherently volatile and thematically unstable environment’: ANZ Bank warns 2019 will be another wild ride for currency markets
Markets

The Australian dollar is drifting higher

The Australian dollar gained modestly against most major crosses on Thursday. The ECB delivered few surprises at its December monetary policy meeting, although slightly dovish remarks from Mario Draghi and downward revisions to the bank’s GDP and inflation forecasts weighed on the euro. China will release major economic data at […]
The Australian dollar is drifting higher
Markets

The Australian dollar is grinding higher as trade tensions begin to thaw

The Australian dollar rose modestly against the greenback on Wednesday, supported by positive signals on US-China trade negotiations. The British pound was the big mover during the session, helped by speculation that Theresa May will survive a no-confidence vote on her leadership. The main event today will be the ECB’s […]
The Australian dollar is grinding higher as trade tensions begin to thaw
Markets

Something unusual is happening in US financial markets

The positive correlation that existed between the US dollar index (DXY) and US treasury yields last year has now turned to dust. Traders are bullish on the US dollar index and US treasuries right now, something Morgan Stanley says is “rare”. The last time this occurred volatility in developed market […]
Something unusual is happening in US financial markets
Markets

The Australian dollar remains trapped in a familiar range

The Australian dollar remains range-bound and choppy. Optimism over trade negotiations between China and the US was offset by concern of a potential US government shutdown on Tuesday, keeping the AUD/USD in a tight range. US CPI will be released today. In Australia, the main highlight comes from the latest […]
The Australian dollar remains trapped in a familiar range
Markets

The Australian dollar remains under pressure

The Australian dollar followed a familiar pattern on Monday, lifting in Asia before giving back ground later in the session. The British pound was hammered as a vote on a Brexit deal in the UK House of Commons was delayed. There’s plenty of second-tier data released on Tuesday both at […]
The Australian dollar remains under pressure
Markets

The Australian dollar continues to slide

The Australian dollar has fallen to the lowest level against the greenback in a month in early trade on Monday. Heightened geopolitical risks and concern about the Chinese economy has contributed to the Aussie’s recent weakness, adding to concerns about the US and Australian economies from late last week. Australian […]
The Australian dollar continues to slide
Markets

The Australian dollar hasn’t been this cheap since the GFC

The Australian dollar hasn’t been this cheap since the GFC, according to the Commonwealth Bank’s fair value model. The significant discount largely reflects fears over the US-China trade war. A senior strategist at the bank says markets are overestimating the trade war’s impact on the global economy. Outside of a […]
The Australian dollar hasn’t been this cheap since the GFC
Markets

The Aussie dollar gets slammed again

The Australian dollar got smoked for second consecutive session on Thursday. Geopolitics, plunging stock and commodity prices, a weaker Chinese yuan and increased volatility ensured a torrid day for the Aussie. Chinese financial markets will likely dictate sentiment in the first half of Friday’s trading session. Towards the close, the […]
The Aussie dollar gets slammed again
Markets

Asian markets are getting smoked as geopolitical risks flare again

Risk sentiment in Asia has taken a turn for the worse following the arrest of a senior Chinese executive in Canada. Stocks, currencies and crude prices are under pressure while safe havens are in demand. US stock futures are down more than 1% having been halted earlier in the session […]
Asian markets are getting smoked as geopolitical risks flare again
Markets

The Aussie dollar just took a big hit

The Australian dollar fell heavily on Wednesday, especially against the greenback, British pound and euro. A big miss on Australian economic growth in the September quarter, and dovish remarks from the Bank of Canada, were the main catalysts behind the Aussie’s weakness. Australian trade and retail sales data will be […]
The Aussie dollar just took a big hit
Markets

The Australian dollar goes hard into reverse as risk assets crumble

The Australian dollar went hard into reverse in late trade on Tuesday, unwinding earlier gains for a second consecutive session. Concerns about the outlook for US economic growth and scepticim over the trade truce between the US and China saw risk assets crumble, weighing on the Aussie. Australia’s Q3 GDP […]
The Australian dollar goes hard into reverse as risk assets crumble
Markets

The Aussie dollar rally has stalled

The Australian dollar is trading off the highs struck earlier on Monday. Doubts about the trade truce struck between the United States and China, a strong manufacturing PMI report from the US and comments from a senior US Federal Reserve official has seen the Aussie rally stall. Australia will receive […]
The Aussie dollar rally has stalled
Markets

The Australian dollar surges as doubts about Fed rate hikes resurface

The Australian dollar surged on Wednesday, logging strong gains against most major currencies. Cautious remarks from Fed Chair Jerome Powell created fresh doubt about the pace of rate hikes from the US Federal Reserve next year, seeing US bond yields slide and leaving the US dollar sharply lower. The economic […]
The Australian dollar surges as doubts about Fed rate hikes resurface
Markets

Here are Morgan Stanley’s top FX trades for 2019

US dollar strength has been the prevailing theme in currency markets this year. Morgan Stanley doesn’t expect that trend will be maintained in 2019. The bank has nominated its top 10 FX trades for 2019. Renewed strength in the US dollar has been the key story for currency markets in […]
Here are Morgan Stanley’s top FX trades for 2019
Markets

The Australian dollar goes from ‘hero to zero’

The Australian dollar went from “hero to zero” on Monday, giving back all of its earlier gains in the second half of the session. A sharp plunge in iron ore prices — Australia’s largest goods export by dollar value — may have been a catalyst behind the reversal. The main […]
The Australian dollar goes from ‘hero to zero’
Markets

The wild swings in the Australian dollar have stopped for the moment

The Australian dollar did very little on Thursday, trading in a thin range against the greenback. The GBP and EUR were boosted by an in principle agreement between the UK and EU for an “ambitious, broad, deep and flexible partnership” in the post-Brexit era. Japanese markets are closed today. There’s […]
The wild swings in the Australian dollar have stopped for the moment
Markets

JP Morgan says the Aussie dollar’s slide isn’t over yet

The Aussie dollar has been slammed this year, although its managed to crawl higher against the greenback in November after hitting a more than two-year low in late October. JP Morgan doesn’t expect the bounce will last, forecasting the AUD/USD will spend a considerable period of 2019 below the .7000 […]
JP Morgan says the Aussie dollar’s slide isn’t over yet
Markets

The Australian dollar rebounds in thin holiday trade

The Australian dollar rebounded on Wednesday after a shellacking a session earlier, helped by an improvement in investor risk appetite. A rebound in stocks and crude oil, soft US economic data, along with speculation over the future path of monetary policy from the US Fed all helped the Aussie’s cause. […]
The Australian dollar rebounds in thin holiday trade
Markets

The Aussie dollar’s getting poleaxed

The Australian dollar is getting poleaxed in late trade on Tuesday, falling heavily against all of the major crosses. Cautious remarks from RBA Governor Philip Lowe, along with another bloodbath in stocks and commodity prices during the session, weighed upon all risk assets during the session, including the Aussie. There’s […]
The Aussie dollar’s getting poleaxed
Markets

The Aussie dollar lurches lower as stocks tumble again

The Australian dollar is weaker against most of the major crosses in late trade on Monday, giving back gains after jumping to a three-month high on Friday. The reversal in the Aussie was driven by renewed trade tensions between the United States and China and another ugly selloff for US […]
The Aussie dollar lurches lower as stocks tumble again
Markets

Pessimism towards the Australian dollar is starting to lift

The Australian dollar has rallied in recent weeks, lifting to the highest level against the greenback since late August on Friday. Speculative short positioning in the Australian dollar has reduced quite sharply in recent months, according to data from the US CFTC. The reduction in bearish bets suggests an increasing […]
Pessimism towards the Australian dollar is starting to lift
Markets

CHART: Financial markets are becoming less synchronised

Anyone who’s been involved in financial markets since the GFC will be familiar with the term “risk on, risk off”, a scenario where financial assets that are either deemed to be “safe” or “risky” move in the same direction. It used to be dominant during the QE era as massive […]
CHART: Financial markets are becoming less synchronised
Markets

The Australian dollar is higher across the board

The Australian dollar surged across the board on Thursday, helped by a strong Australian jobs report for October. Brexit chaos weighed on the British pound, seeing it tumble against all of the major crosses. The data calendar is quiet today, leaving sentiment, technicals and headlines to dictate direction. The Australian […]
The Australian dollar is higher across the board
Markets

The Australian dollar is rallying ahead of key jobs data

The Australian dollar rallied in late trade on Wednesday, helped by a rebound in US stocks and renewed optimism over a potential Brexit deal. The British pound was extremely volatile, and influential on broader currency moves against the greenback. Australia’s October jobs report will be released today. The economic calendar […]
The Australian dollar is rallying ahead of key jobs data
Markets

The Australian dollar rockets higher as trade tensions ease again

The Australian dollar is rocketing higher in Asian trade, boosted by signs of a continued thawing in trade tensions between the United States and China. According to the South China Morning Post, Chinese vice-premier Liu He will travel to the United States ahead of the G20 leaders summit in Argentina […]
The Australian dollar rockets higher as trade tensions ease again
Markets

The selloff in Australian dollar is intensifying

The Australian dollar selloff intensified on Monday as investor sentiment took a turn for the worse. The US dollar index hit the highest level since June 2017, reflecting large losses in both the British pound and euro. The data calendar is quiet on Tuesday, likely ensuring that sentiment and technicals […]
The selloff in Australian dollar is intensifying
Markets

Australian petrol prices are tumbling

The average cost of unleaded petrol in Australia just recorded the largest decline in a decade last week. The falls reflect a steep drop in global crude oil prices, a modest rebound in the Australian dollar and a small decline in the average retail petrol margin. Speculation is mounting that […]
Australian petrol prices are tumbling
Markets

The Australian dollar is under pressure

The Australian dollar has opened the new trading week slightly weaker against the greenback. The US dollar is finding support from continued buying against the euro and British pound. US markets will be closed today for the Veteran’s Day holiday. The Australian dollar fell modestly on Friday, mirroring a broader […]
The Australian dollar is under pressure
Markets

The Australian dollar is charging higher as the greenback rally wilts

The Australian dollar rose strongly on Wednesday, hitting the highest a six-week high against the greenback. The Aussie also rose against all of the major crosses except the Kiwi, the latter helped by an enormous fall in unemployment in the September quarter. China will release trade data for October today. […]
The Australian dollar is charging higher as the greenback rally wilts
Markets

New Zealand unemployment tumbles to the lowest level in a decade

New Zealand unemployment tumbled to the lowest level in a decade in the September quarter as strong hiring acted to push the unemployment rate below 4%. The vast bulk of the decline in unemployment was due to younger Kiwis finding work. Despite sharply lower unemployment and underutilisation levels, wage pressures […]
New Zealand unemployment tumbles to the lowest level in a decade
Markets

The Australian dollar rally just hit an air pocket

The Australian dollar gave up earlier gains on Friday, weighed down by higher US bond yields and renewed doubts over the prospect of a trade deal between the US and China being struck. The British pound is surging this morning on speculation of a breakthrough on Brexit negotiations. There’s a […]
The Australian dollar rally just hit an air pocket
Markets

The Australian dollar has surged to the highest level in over a week

The Australian dollar is surging in Asian trade, propelled higher by stronger-than-expected economic data, big gains in regional stocks and what’s likely to be a raft of short-covering from traders. After opening the session at .7073, the AUD/USD surged back above the .7100 level following news that Australia’s posted a […]
The Australian dollar has surged to the highest level in over a week
Markets

Australia just recorded a monster trade surplus of over $3 billion

Australia’s trade surplus surged to over $3 billion in September, well above the $1.8 billion level expected. Booming growth in the value of iron ore and LNG exports, along with a drop in the value of machinery and industrial equipment and civil aircraft imports, largely explains the widening in the […]
Australia just recorded a monster trade surplus of over $3 billion
Markets

The Aussie dollar has been whacked again

The Australian dollar fell heavily on Wednesday, weighed down by a weak Australian inflation report and rampant buying in the US dollar. The US dollar index hit the highest level since June 2017, helped by weakness in the euro and strong labour market data. Australia will receive trade data for […]
The Aussie dollar has been whacked again
Markets

The Australian dollar jumps on hopes of a ‘great’ trade deal

The Australian dollar jumped against all of the major crosses on Tuesday, the exact opposite performance to a day earlier. Renewed optimism behind a potential trade deal between China and the US largely explains the move, along with some short-covering. Australia’s Q3 inflation report will be released today. The economic […]
The Australian dollar jumps on hopes of a ‘great’ trade deal
Markets

China’s financial markets are bouncing around like a cat on a hot tin roof

Chinese financial markets are having another wild session on Tuesday. Both stocks and the Chinese yuan are off their earlier lows. The recovery was unusually abrupt. China’s “National Team” may be contributing to today’s moves. It’s been another eventful session for Chinese markets, even by their volatile standards. From the […]
China’s financial markets are bouncing around like a cat on a hot tin roof
Markets

The Australian dollar remains the whipping boy of currency markets

The Australian dollar remains the whipping boy of currency markets, at least among the majors. It fell heavily again on Monday, undermined by a combination of renewed weakness in the Chinese yuan, heightened geopolitical concerns and a steep and late drop in US stocks. Australian building approvals and consumer confidence […]
The Australian dollar remains the whipping boy of currency markets
Markets

Tech stocks are surging after IBM agrees to pay $34 billion for Red Hat

Stocks jumped Monday after Wall Street wiped out its 2018 gains last week. The tech-heavy Nasdaq paced led the major averages higher after IBM agreed to pay $US34 billion for the cloud-software company Red Hat. Earnings season rolls on, with Facebook and General Electric set to report on Tuesday and […]
Tech stocks are surging after IBM agrees to pay $34 billion for Red Hat
Markets

Tech stocks are surging after IBM agrees to pay $34 billion for Red Hat

Stocks jumped Monday after Wall Street wiped out its 2018 gains last week. The tech-heavy Nasdaq paced led the major averages higher after IBM agreed to pay $US34 billion for the cloud-software company Red Hat. Earnings season rolls on, with Facebook and General Electric set to report on Tuesday and […]
Tech stocks are surging after IBM agrees to pay $34 billion for Red Hat
Markets

Wall Street tumbles as tech gets slammed

Stocks fell Friday as a technology sell-off rattled global markets. Wall Street had wiped out its gains for the year earlier this week, before beginning to recover Thursday. Follow the US indices in real time here. US stocks tumbled Friday as a technology rout rattled markets around the world, days […]
Wall Street tumbles as tech gets slammed
Markets

The Australian dollar has tumbled to its lowest level in years

The Australian dollar has fallen to fresh multi-year lows against the greenback, tumbling in Asian trade on Friday as the Chinese yuan hit fresh decade-lows. The AUD/USD currently sits at .7028, slicing below previous support at .7040 to trade at the lowest level since February 2016. The low so far […]
The Australian dollar has tumbled to its lowest level in years
Markets

The Australian dollar is gaining across the board

The Australian dollar rose across the board on Thursday, paying scant attention yet again to the wild gyrations in global stocks seen during the session. Firmer bulk commodity prices and a reluctance to test technical support may explain the Aussie’s resilient performance. The main data release today comes from the […]
The Australian dollar is gaining across the board
Markets

The Aussie dollar is sliding as sentiment takes a turn for the worse

The Aussie dollar came under renewed selling pressure on Wednesday, moving back towards multi-year lows against the greenback. Weak economic data and an abrupt selloff in US stocks at the end of the session weighed on investor sentiment. The economic calendar is quiet in Asia. It could be a tough […]
The Aussie dollar is sliding as sentiment takes a turn for the worse
Markets

The Australian dollar is under pressure again

The Australian dollar fell to a one-week low against the greenback on Monday, weighed down by broad-based US dollar strength. Traders paid scant attention to the massive surge in Chinese stocks seen during the session, choosing instead to focus on political woes in Europe. The economic calendar is incredibly quiet […]
The Australian dollar is under pressure again
Markets

Petrol in Australia is the most expensive it’s been in over a decade

The average price of unleaded petrol in Australia has hit the highest level in over a decade, according to Commsec. MortorMouth reports that average prices in Australia’s capital cities currently range from 166 cents per litre in Canberra to 147.3 cents per litre in Adelaide. Wholesale petrol prices have fallen […]
Petrol in Australia is the most expensive it’s been in over a decade
Markets

Stocks climb as Wall Street’s focus shifts to earnings

Stocks jumped at the US open Friday. A sell-off had shaved thousands of points from the major US indices last week. Watch US stocks trade in real time here. Stocks jumped Friday as Wall Street shook off fears about rising rates and the prospect of slowing economic growth around the […]
Stocks climb as Wall Street’s focus shifts to earnings
Markets

The Australian dollar can’t break higher no matter how hard it tries

The Australian dollar came under renewed selling pressure on Wednesday, trimming earlier gains to close mixed for the session. The greenback was supported by safe-haven buying, largely due to renewed concerns over Italian budget negotiations, Brexit uncertainty as well as a steep drop in US and European stocks. China will […]
The Australian dollar can’t break higher no matter how hard it tries
Markets

Stocks stumble for a 2nd day as oil sinks to a one-month low

Stocks slid Thursday as Wall Street continued to worry about rising rates. A sell-off had shaved thousands of points from the major US indices last week. Watch US stocks trade in real time here. Stocks slipped Thursday as Wall Street fretted over Federal Reserve signals they interpreted as more hawkish […]
Stocks stumble for a 2nd day as oil sinks to a one-month low
Markets

Chinese stocks are cratering again

Chinese stocks are getting thumped. Again. The benchmark Shanghai Composite Index has fallen 30% from late January, leaving it at the lowest level since November 2014. The Chinese yuan also hit the weakest level against the greenback since January 2017 after the US Treasury Department cleared China of being a […]
Chinese stocks are cratering again
Markets

The Aussie dollar’s rebound has stalled

The Australian dollar finished mixed on Wednesday, losing ground against the greenback but gaining against most of the major crosses. The Fed’s September FOMC minutes were regarded as hawkish, helping to underpin gains in the US dollar. Australia’s September jobs report will be released today. Also keep an eye out […]
The Aussie dollar’s rebound has stalled
Markets

The Dow sinks more than 200 points

Stocks fell Wednesday morning, pausing from a global rebound. A sell-off had shaved thousands of points from the major US indices last week Watch US stocks trade in real time here. The three major US indices slipped Wednesday as an earnings-fuelled rally lost steam and ahead of Federal Reserve meeting […]
The Dow sinks more than 200 points
Markets

The Australian dollar is finding friends as risk assets rebound

The Australian dollar rose against the US dollar and Japanese yen on Tuesday but fell against the New Zealand and Canadian dollars as well as the British pound. The AUD/USD briefly traded at .7150, the highest level in two weeks. RBA Assistant Governor Guy Debelle will deliver a speech on […]
The Australian dollar is finding friends as risk assets rebound
Markets

New Zealand inflation comes in hot and now the Kiwi dollar is soaring

New Zealand inflationary pressures surged in the September quarter, recording the largest percentage gain since early 2017. Fuel prices surged by 5.5% over the quarter, and 19% over the year. Headline and underlying inflationary pressures continue to move back towards the midpoint of the RBNZ’s 1-3% annual target. The bank […]
New Zealand inflation comes in hot and now the Kiwi dollar is soaring
Markets

The Australian dollar continues its slow grind higher

The Australian dollar continued to push higher on Monday, briefly hitting a two-week high against the greenback before trimming gains into the close. There was little reaction to mixed US economic data or news that the US government deficit ballooned to the highest level since 2012 in the 2018 fiscal […]
The Australian dollar continues its slow grind higher
Markets

The Australian dollar is on the nose with currency traders

Currency speculators are extremely pessimistic on the outlook for the Aussie dollar. Net short positioning among leveraged investors is near the highest level since mid-2015. With pessimism towards the Aussie elevated, and markets positioned for further weakness, further declines may be hard won. The Australian dollar is on the nose […]
The Australian dollar is on the nose with currency traders
Markets

The Australian dollar remains supported on dips — for now

The Australian dollar has opened mixed in Monday, gaining against the euro and UK pound but giving back ground against the US dollar and Japanese yen. The big mover in early trade has been the GBP, suffering from another bout of Brexit uncertainty. The economic calendar is quiet in the […]
The Australian dollar remains supported on dips — for now
Markets

The Dow jumps as much as 400 points

Stocks staged a recovery early on Friday following tame inflation data. The Dow Jones industrial average fell more than a thousand points between Tuesday and Thursday. Watch US indexes trade in real time here. Following the worst couple of days on Wall Street since February, stocks staged a recovery on […]
The Dow jumps as much as 400 points
Markets

Gold just logged its largest gain since Brexit

The spot gold price surged higher on Thursday, after trading in a narrow trading range for the best part of two months, breaking the downtrend its been stuck in since mid-August this year. Not only that, at 2.46%, Thursday’s gain was the largest in percentage terms since June 24, 2016, […]
Gold just logged its largest gain since Brexit
Markets

The latest Aussie dollar selloff didn’t last long

The Australian dollar had a wild session on Thursday, recovering from earlier declines to close sharply higher. A decline in US bond yields, helped in part by a weaker-than-expected US inflation report for September, helped to offset continued steep declines in European and US stocks. The economic calendar is busy […]
The latest Aussie dollar selloff didn’t last long