Looking like another interest rate drop??
Here is an overview and how it is effecting the Au$
The Australian dollar continued to struggle on Tuesday as the prospect of an interest rate rise sooner than anticipated in the US weighed on the higher yielding currency. The AUD was near 5 year lows against the Greenback early on falling below the US77 cent handle quickly, with poor domestic and offshore figures leading the way. NAB business confidence was first up just before midday disappointing with a print of 0. The drop in confidence is believed to be underpinned by talks of a further rate cut by the RBA implying continued economic struggles. Chinese inflationary data later on had little affect just beating out forecasts while overnight the AUD continued to fall touching lows of 0.7602, before opening this morning substantially weaker at 0.7619. Today all eyes will focus on Home loans and Consumer sentiment as well as industrial production numbers out of China
MTR
Here is an overview and how it is effecting the Au$
The Australian dollar continued to struggle on Tuesday as the prospect of an interest rate rise sooner than anticipated in the US weighed on the higher yielding currency. The AUD was near 5 year lows against the Greenback early on falling below the US77 cent handle quickly, with poor domestic and offshore figures leading the way. NAB business confidence was first up just before midday disappointing with a print of 0. The drop in confidence is believed to be underpinned by talks of a further rate cut by the RBA implying continued economic struggles. Chinese inflationary data later on had little affect just beating out forecasts while overnight the AUD continued to fall touching lows of 0.7602, before opening this morning substantially weaker at 0.7619. Today all eyes will focus on Home loans and Consumer sentiment as well as industrial production numbers out of China
MTR