AUD/USD Steady Despite Weak GDP

Businesses sentiment rose strongly in August, as the prospect and then delivery of an OCR cut was brought forward. Key results (August 2024) Business confidence: 50.6 (Prev: 27.1) Expectations for own trading activity: 37.1 (Prev: 16.3) Activity vs same month one year ago: -23.1 (Prev: -24.3) Inflation expectations: 2.92% (Prev: 3.20%) Pricing intentions: 41.0 (Prev: […]

Key insights from the week that was. In Australia, there was finally a sigh of relief for consumers as October’s Westpac-MI Consumer Sentiment Survey reported a 6.2% increase in the headline index to 89.8, a two-and-a-half year high. The chief culprit behind this improvement was a significant pull-back in interest rate hike fears, as consumers […]

EURUSD dipped to new two month low early Tuesday, remaining under pressure from risk aversion on China’s latest stimulus news and wide expectations of ECB rate cut by 25 basis points on Thursday. After registering a daily close below 1.0944/35 (Fibo 61.8% of 1.0775/1.1214 / daily cloud base / 100DMA) bears now pressure pivots at […]