aud

Forex Trading News: Australian Trade Balance

Alex Chernomordin — Wed, 07 Jan 2009 19:31:43 -0500

The Australian Trade Balance expected to come in at a surplus of 2100M came in lower at a surplus of 1448M. Also released were the Building Approvals, which came in significantly weaker. The AUD traded lower on this release.

Forex Trading News: AIG Performance Construction Index

Alex Chernomordin — Wed, 07 Jan 2009 17:31:06 -0500

The Australian Industry Group Performance of Construction Index is a leading indicator of the Australian construction industry. The index came in worse than the prior months reading of 32, with a reading of 30.9 for December. The Aussie is little changed after this release, which has indicated contraction for the last 10 months.

Forex Trading News: Australian Retail Sales

Alex Chernomordin — Tue, 06 Jan 2009 19:32:25 -0500

The Australian Retail Sales report for November was released as follows:

Retail Sales Trend - Survey: 0.1% Actual: 0.1% Prior: 0.2%

Retail Sales Seasonally Adjusted - Survey: -0.4% Actual:0.4% Prior: 0.7%

The Australian Dollar is better bid off this positive release, after selling off slightly into the number.

Forex Trading News: Aussie Conference Board Leading Index

Alex Chernomordin — Mon, 22 Dec 2008 18:05:45 -0500

The Australian Conference Board Leading Index came in softer for October at -0.5% versus the prior reading 0.4%. The Aussie little changed on this release showing the global slowdown is in full effect, with yield spreads making a negative contribution and a slowdown in good exports and devaluation of commodities.

Forex Trading: AUD/USD Moving North on Dollar Weakness (Click for Chart)

Alex Chernomordin — Tue, 16 Dec 2008 22:44:23 -0500

With an unexpected rate cut of 75 (variable to 100) basis points by the Fed today and with USD weakness already in the pipeline the last few weeks, we see the AUD following Asian and European currencies north against the USD. Looking at a daily retracement analysis (7/15 high - 10/28 lows) on the pair we see some technicals coming into play with more on the horizon. We will be looking for short-term support on the pair above the 69 handle and longer-term resistance at the .7470 level at the 38.2% retracement. The 100 day moving average is currently sitting right above the 38.2% retracement level, but the pair might need to penetrate that indicator to get to 38.2% in the next few weeks.

Forex Trading News: Australian DEWR Skilled Vacancies

Alex Chernomordin — Tue, 16 Dec 2008 19:03:42 -0500

As expected the Aussie DEWR Skilled Vacancies were down again for Decemeber by -7.2%, worse than the prior months reading of -4.8%. Just a further indication that companies are scaling back their work forces worldwide, the Aussie took a bit of a dip against the USD on this report.

Forex Trading News: Aussie Westpac Leading Index (October)

Alex Chernomordin — Tue, 16 Dec 2008 18:36:06 -0500

The Australian Westpac Leading Index came in better than the prior month at -0.1% reading for October, versus the -1% reading for September. The prior reading was revised lower and the market has had no reaction to this backward looking number.

Forex Trading News: RBA Meeting Minutes for December

Alex Chernomordin — Mon, 15 Dec 2008 19:41:03 -0500

The following are the vital comments from the December Reserve Bank of Australia meeting minutes:

RBA Board agreed to cut key rate to expansionary level.
Size of the rate cut in December reflects no meeting January.
Period of assessment is warranted after 2008 rate cuts.
Rate cuts, government spending and weaker $Aussie are major stimulus.
China slowdown impacting Australian export volumes.
CPI may drop below 2.5% by mid-2009 on cheaper fuel.

The Aussie has extended gains on this report as the RBA sees inflation slowing.

Forex Trading News: Australian PM Rudd on the Wires

Alex Chernomordin — Thu, 11 Dec 2008 20:51:46 -0500

The Australian PM Rudd announces a $4,7Billion allocation to a national building as part of the an infrastructure program. The AUD received a minimal bid off this headline.

Forex Trading News: Australian Employment Report

Alex Chernomordin — Wed, 10 Dec 2008 19:31:37 -0500

The Australian employment report, which was expected to be significantly softer for November came in as follows:

Unemployment Rate - Survey: 4.4% Actual: 4.4% Prior: 4.3%

Employment Change - Survey: -15.0K Actual: -15.6K Prior: 34.3K

Participation Rate - Survey: 65.2% Actual: 65.1% Prior: 65.3%

Although the reading is seemingly worse than expected, despite the data the AUD received a bid off this report.