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Australia’s retail snails weigh on December's trade figures (again)
Australia’s retail sales were down a lot more than expected in December, suggesting much of the hype had died over the Black Friday Sales and Cyber Sales Monday in November.
AU inflation – a report to match Australia’s (hot) weather
There’s no escaping the fact that Australian inflation continues to point the wrong way for the RBA and consumers alike. And today’s report should quickly eradicate hopes of an RBA pause in February.
AU employment miss adds to the Aussie's woes
A weak lead form Wall Street weighed on the Aussie overnight, with today’s employment miss adding to its downside pressure.
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Australian inflation fell… but just ‘weight’ a minute
Whilst Australia’s final inflation print for the year remains high by historical standards, it was much lower than expected at 6.9% y/y
The RBA's 25 vs 50bp hike debate is no longer ‘finely balanced’
The RBA’s November minutes lean towards 25bp hike/s with a pause along the way, with a 50bp hike likely requiring higher inflation expectations and wages.
Australian business sentiment stalls, consumer sentiment falls
Business confidence came to a standstill according to a monthly NAB (National Australian Bank) survey, whilst consumer confidence is its lowest since the pandemic.
Will the RBA repeat with a 25bp hike tomorrow?
The RBA are set to hold their November meeting tomorrow at 14:30 AEDT and, whilst the consensus is for a 25bp hike, it doesn’t mean they won’t do a 50bp one instead.
Will the RBA repeat with a 25bp hike tomorrow?
The RBA are set to hold their November meeting tomorrow at 14:30 AEDT and, whilst the consensus is for a 25bp hike, it doesn’t mean they won’t do a 50bp one instead.
Australian inflation is the latest ‘hot beat’ on the dancefloor
Economic data beats are usually a good thing, unless it is in the guise of much higher than expected (and already elevated) inflation.
Australian inflation is the latest ‘hot beat’ on the dancefloor
Economic data beats are usually a good thing, unless it is in the guise of much higher than expected (and already elevated) inflation.
AUD remains rangebound ahead of tomorrow’s inflation report
Australian inflation data is released tomorrow, and if it comes in hotter than expected – like it did on New Zealand – if adds another fly in the ointment for the RBA
AUD remains rangebound ahead of tomorrow’s inflation report
Australian inflation data is released tomorrow, and if it comes in hotter than expected – like it did on New Zealand – if adds another fly in the ointment for the RBA
Soured sentiment keeps AUD/JPY on the ropes
Concerns that the US is headed for stagflation weighed on sentiment yesterday, which has placed AUD/JPY back onto our bearish watchlist.
Australian growth rebounded in Q4
Hopes that growth in Australia would rebound in Q1 were easily met, with GDP rising 3.4% q/q compared to 3.0% expected.
The Aussie rallies on strong retail trade
Punchy retail data sent the Aussie higher across the board. Yet with US CPI expected to rise further tomorrow, the upside may be limited for AUD/USD.
European Open: Indices mixed, oil and energy lower, RBA hold rates
With no surprises by the RBA and mixed data from Asia, traders looked to weaker oil prices for a lead.
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1:33 PM − 04 Feb 2023
Aussie Pairs Nearing Key Support: AUD/CAD, AUD/JPY, AUD/USD
Forsome pairs, the Australian Dollar is running into support.
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China is supportive of AUD
Chinese non-manufacturing PMI climbed to 53.6 (vs 53.5 expected) from 53.2 in April, which is positive new for AUD.
China weighs on AUD
China didn’t set an annual growth target and puts pressure on Hong Kong, which negatively impacts the AUD.
AUD is still supported by China
AUD benefits from better China's industrial production.
Beef war between Australia and China
China has decided to suspend beef imports from some Australian abattoirs but AUD remains resilient.
AUD is taking advantage of China’s exports growth
AUD is taking advantage of the unexpected China’s exports growth.