AUD/USD has been impacted by a weak economy.

AUD/USD has been impacted by a weak economy.
Create at 1 year ago (Sep 13, 2023 16:04)

The consumer confidence index in Australia has continued to decline in August, putting downward pressure on the Australian dollar. In September, it dropped to -1.5% after falling to -0.4% the previous month. This has raised concerns about the impact of China's economic slowdown.


The AUD/USD has seen trading activity push it down to 0.6400 recently, influenced by domestic economic factors and growing concerns about the U.S. inflation data, which is expected to be higher than in the previous month. This could signal a tightening monetary policy by the U.S. Federal Reserve in the remaining months of the year. Year-on-year CPI figures are expected to increase from 3.2% to 3.6%, while Core CPI is expected to decrease from 4.7% to 4.3%.


Furthermore, China's economic stimulus measures are still not clear, adding to the levels of anxiety. China is considered one of Australia's top trading partners, and any economic slowdown in China could pressure Australia's exports.


Investors are also awaiting the U.S. Consumer Price Index (CPI) data for August. If the CPI data comes in higher than expected, the Fed may consider raising interest rates further. Additionally, there is a keen interest in Australian employment data and the U.S. Producer Price Index (PPI) for August, which will be released on Thursday.

 
Source: Fxstreet
 
AUD/USD news today

Overview
Today last price 0.6408
Today Daily Change -0.0018
Today Daily Change % -0.28
Today daily open 0.6426
 
Trends
Daily SMA20 0.6427
Daily SMA50 0.6571
Daily SMA100 0.6622
Daily SMA200 0.671
______________________________
Maximize your knowledgeBlog
Keep up to date on global events:News
Explore in-depth analysis: Analysis
Tags:

TECHNICAL ANALYSIS

ARTICLES