Live Breaking News & Updates on March Westpac Leading Index
Stay updated with breaking news from March westpac leading index. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
4/23/2021 3:24:30 PM GMT Australian business´ confidence indices surged as the economy continues to improve. US upbeat data is not enough to twist the Fed’s hand, at least in the near-term. AUD/USD technical readings support a bullish extension for the time being. The AUD/USD pair seesawed between gains and losses to end the week pretty much unchanged around 0.7730. Ever since the year started, the pair has been developing in a quite shy range of 450 pips, although it managed to post a two-year high of 0.8006 in between. The Australian currency should have come out stronger in the pandemic if it was not because of China. Tensions between both countries, with the first pressuring to discover the origins of covid and the latter banning imports from the commodity-producer country. ....
Share: The Australian March Westpac Leading Index improved to 0.38% from 0.17%. The better tone of American stocks helped the pair to bounce from a weekly low. AUD/USD needs to advance beyond 0.7770 to become more attractive for bulls. The AUD/USD pair trades around 0.7750, up for the day after falling to 0.7698, the lowest in a week. The pair advanced in the last trading session of the day, as demand for the greenback eased on the back of the better performance of stocks in the European and American sessions. Australian macroeconomic figures were generally encouraging, as the country published the March Westpac Leading Index, which improved to 0.38% from 0.17% in the previous month. Also, the preliminary estimate of March Retail Sales printed at 1.4%, recovering from -0.8% in the previous month and beating expectations of 1%. ....
4/16/2021 3:29:51 PM GMT Plummeting US Treasury yields pressured the greenback and boosted risk appetite. March Australian upbeat employment data hid a nasty secret. AUD/USD has shrugged off its long-term negative bias, but bulls still have to wait. Risk appetite took over financial markets this week, pushing AUD/USD firmly up. The pair topped 0.7760 heading into the weekend, trading a handful of pips below the level. Major currencies were once again driven by US government bond yields. It’s all about yields, still US Federal Reserve chief Jerome Powell repeated ad exhaustion that the central bank will maintain its ultra-loose monetary policy until actual data confirms an economic comeback and not just based on forecasts. However, something new on the matter surged this week. Chief Powell suggested that tapering would come “well before” considering a rate hike. The central bank has been buying $80 billion in Treasuries and $40 billion in mortgage-ba ....