DJIA26148.81
LIVE262.80(1.02%)
NDX7726.97
LIVE122.86(1.62%)

AUD/USD hits fresh 20-month low on dismal Aussie retail sales reading


Monday, 3 September 2018 09:19 WIB

AussieAUD/USD,AussieDolar


c_740_198_16777215_00_images_assets_CURRENCY2_AUD-USD-Irrational-Numbers-Fundamental-Analysis-fx-trader-forex1.jpg

The AUD is being offered in response to a weaker-than-expected Australia retail sales reading.

The retail sales growth stalled in August, missing the forecast of a 0.3 percent month-on-month rise. The previous month's print has been left unrevised at 0.4 percent.

Meanwhile, Australian ANZ job advertisements fell 0.6 percent on month in August, following a 1.4 percent rise in July.

The weak consumption data and job additions figure only validated the argument that the Reserve Bank of Australia (RBA) is unlikely to hike interest rates any time soon.

Still, the AUD/USD may not suffer deeper losses as the currency pair is looking oversold as per the 14-week relative strength index. Further, the Australia Q2 inventories data has bettered estimates by printing at 0.6 percent quarter-on-quarter. Company operating profit also rose 2 percent quarter-on-quarter in Q2, beating the estimated figure of 1.3 percent, but well below the previous month's print of 5.9 percent.

At press time, the AUD/USD is trading at 0.7174, having clocked a 20-month low of 0.7166 a couple of minutes ago.

Source: FXStreet


RELATED NEWS

  • Risk sentiment returned to the foreign exchange markets early Friday in Europe, with the Swiss franc and yen retreating against the dollar, and the dollar retreating against the pound as a week of tur...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.