The first half of the year was rather choppy for the US dollar as massive bets of weakness were scaled down. Many on Wall Street expected the dollar to weaken
Aussie dips below 0.77 line
January 18, 2021SharePrint
The Australian dollar has started the new trading week with slight losses. AUD/USD is currently trading at 0.7681, down 0.26% on the day.
US dollar on the move
The US dollar looked like the G-10 punching bag in the latter months of 2020, and the Australian dollar took full advantage by posting sharp gains. The New Year has been witness to a stronger US dollar, and this was apparent on Friday, as the US dollar pummelled the Aussie and gained 0.99% per cent. This marked AUD/USD’s strongest one-day gains since October.
The US dollar’s broad gains on Friday were even more noteworthy, given that US released soft Retail Sales reports on Friday. Headline retail sales fell by 0.7% and core retail sales was even worse, with a decline of 1.4 percent. This marked back-to-back declines for both releases. The drop in consumer spending, a key driver of economic growth, is certainly worrying. At the same time, an important takeaway fro
Aussie slides despite sharp retail sales
January 11, 2021SharePrint
The Australian dollar has started the new trading week with sharp losses. AUD/USD is currently trading at 0.7685, down 0.91% on the day. The Aussie finds itself in the unusual position of being on a mini-slide, as the US dollar is finally showing some signs of life.
US yields boost dollar
Solid Australian data on Monday could not stem the Aussie’s slide against the US dollar. On the inflation front, the Melbourne Institute Inflation Gauge rose 0.5% in December, up from 0.3 per cent. The reading marked a 5-month high, pointing to stronger economic activity. Retail sales jumped 7.1% in November, an almost identical gain to the previous release of 7.0%. This strong reading edged above the forecast of 7.0%.