|Day's Range||0.6520 - 0.6520|
|52 Week Range||0.6176 - 0.7365|
The Aussie dollar has broken down significantly during the trading week, as the 0.6 6 Level Has Given Way.
The Aussie dollar bounced a bit early on Friday to show signs of life again as we head into the weekend.
Investing.com-- Australian retail sales missed expectations in April, remaining flat from the prior month as a rising cost of living and high interest rates saw consumers pulling back further on spending big.
The Aussie dollar had sold off rather drastically and Wednesday, and Thursday it looks like we are seeing more of the same.
The U.S. dollar gained in Europe Thursday, climbing to a two-month high on rising fears of a U.S. default as Fitch threatens a rating downgrade. At 02:55 ET (06:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose 0.2% to 103.955, just below the 104.05 overnight peak, the highest level since mid-March. The dollar’s safe haven status has meant that it has benefited from the lack of progress in the talks to lift the U.S. government's $31.4 trillion debt ceiling, with the early-June deadline that Treasury Secretary Janet Yellen said is when it’s “highly likely” that her department will run out of money drawing nearer.
Investing.com -- Most Asian currencies slid on Thursday, while the dollar hit a two-month high as uncertainty over raising the U.S. debt limit and averting a default saw investors avoid risk-driven assets.
The Aussie fell hard on Wednesday, showing that the market may finally be looking to break down.
While talks between both political parties continue over the lifting of the U.S. government's $31.4 trillion debt ceiling, any progress seems to be hard won and there are few signs of a deal being reached anytime soon. There’s now just over a week before the early-June deadline that U.S. Treasury Secretary Janet Yellen said is when it’s “highly likely” that her department will run out of sufficient cash to function as normal.
The Australian dollar will continue to see a lot of noise, as we are testing the bottom of the overall consolidation range that we have been in for a while.
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The U.S. dollar gained in early European trade Tuesday, with risk sentiment on the slide as the debt ceiling impasse continued and following hawkish comments from Fed officials. U.S. President Joe Biden and House Speaker Kevin McCarthy ended discussions late Monday with no agreement on how to raise the U.S. government's $31.4 trillion debt ceiling. U.S. Treasury Secretary Janet Yellen added to the urgency of the situation by stating that it’s now “highly likely” that her department will run out of sufficient cash in early June.
The Australian dollar has gone back and forth early on Monday, as we continue to see a lot of hesitation just above the 0.66 level.
The U.S. dollar edged lower in early European trade Monday amid uncertainty surrounding the U.S. debt ceiling negotiations and after dovish comments from Fed chair Jerome Powell. The dollar received a blow late last week as negotiations over the potential raising of the U.S. debt ceiling, and thus avoiding a very damaging default, suddenly broke down with Republicans walking out of the meeting. U.S. President Joe Biden and House Republican Speaker Kevin McCarthy are set to meet later Monday, but compromises will have to be made and thus more brinkmanship is to be expected ahead of early June, when the Treasury is seen running out of money.
The Aussie dollar has gone back and forth during the week, testing the bottom of the overall range to find buyers.
The Aussie dollar bounced a bit during the trading session on Friday, showing signs of strength at the 0.66 level.
The U.S. dollar edged lower in early European trade Friday, but remained near a two-month high as strong labor data and optimism that a U.S. debt default can be avoided pointed to the Federal Reserve retaining a tight monetary policy for longer. The dollar index is on course to record gains of just under 1% this week as news of constructive talks to end the current debt ceiling impasse in Washington raised optimism that a deal can be reached, thus avoiding a damaging debt default. This has put the spotlight firmly back on the Federal Reserve and what it will decide over future interest rate moves.
The Aussie dollar initially fell a bit during the trading session on Thursday but has found a little bit of support in the same general area as the last couple of days.
Exchange blames third-party payment providers, and says that credit as well as debit cards can still be used.
The U.S. dollar rose in early European trade Thursday as negotiations to end the debt ceiling standoff in Washington have yet to result in a deal, while more Fed officials are due. President Joe Biden and top U.S. congressional Republican Kevin McCarthy have agreed to negotiate directly over the raising of the government's $31.4 trillion debt ceiling, after a months-long standoff. This has raised optimism that a deal can be reached to avoid a damaging debt default, but a cautious air has tempered risk-taking.
Investing.com -- Australia’s job market unexpectedly contracted in April, data showed on Thursday, while unemployment rose amid some cooling in economic activity, although a high number of vacancies showed that the labor space was still running red hot.
The Australian dollar initially fell during the trading session on Wednesday, but has found a little bit of support, at least enough to turn around and put up a fight.
The Aussie dollar has seen a lot of back-and-forth behavior, as the market currently sits just below the 50-Day EMA.
The potential for a U.S. default of its debts if a deal is not done to lift the country’s borrowing limit, which Treasury Secretary Janet Yellen reiterated could be hit as soon as June 1, has helped the dollar push higher of late, with traders seeking the greenback given it is often used as a safe haven in times of stress. The main parties are expected to meet once more later Tuesday, with President Joe Biden expressing confidence a deal can be done, but Republican House of Representatives Speaker Kevin McCarthy said on Monday that the two sides were still far apart. The Federal Reserve raised interest rates last week for a 10th straight time, but hinted that it may be about to pause its aggressive policy tightening as it studies incoming economic data and assesses the impact of the tightening to date.
Investing.com -- Most Asian currencies retreated on Tuesday as disappointing Chinese economic data posited a weak outlook for the region’s largest economy, while hawkish comments from Federal Reserve officials also brewed uncertainty over the path of U.S. interest rates.
The Australian dollar has bounced rather hard during the trading session on Monday to reach toward the 50-Day EMA.