Aussie near two-week high

The Australian dollar is near a two-week high versus the US dollar, as traders feel another rate cut is less likely than was anticipated in the summer.

The Australian dollar is trading at $0.9425, up 0.3% on the day. During the week the Reserve Bank of Australia (RBA) kept interest rates at an all-time low of 2.5%, as Glenn Stevens of the RBA stated that he is waiting for previous rate cuts to take effect. The Australian dollar has been less volatile as China has been on holiday for most of the week, due to the fact that China and Australia conduct a large amount of business.

US unemployment data will not be announced today as expected as the partial shutdown in the US has impacted the labour department staff. At 2.30pm (London time) Jeremy Stein of the Federal Reserve will make an announcement. If he suggests that the stimulus package should be kept in place for the foreseeable future, we could see the Australian dollar rally.

Spot FX AUD/USD chart

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen. 79% van de retailbeleggers lijdt verlies op de handel in CFD’s met deze aanbieder.
Het is belangrijk dat u goed begrijpt hoe CFD's werken en dat u nagaat of u zich het hoge risico op verlies kunt permitteren.
CFD’s zijn complexe instrumenten en brengen vanwege het hefboomeffect een hoog risico mee van snel oplopende verliezen.