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Money The Australian dollar is recovering after an earlier tumble

11:37  08 march  2018
11:37  08 march  2018 Source:   businessinsider.com.au

The Australian dollar got a boost from a late rally in US stocks

  The Australian dollar got a boost from a late rally in US stocks The Australian dollar is trading almost unchanged from where it began Friday's session, gaining ground late last week on the back of a strong rally in US stocks. At the margin, higher crude and iron ore prices may have also assisted the Aussie's late push higher, seeing it recover from 78 cents hit earlier in the session. Here's the scoreboard at 7.50am AEDT.AUD/USD0.7832,-0.001,-0.13%AUD/JPY83.75,-0.08,-0.10%AUD/CNH4.9547,-0.006,-0.12%AUD/EUR0.6374,-0.0005,-0.08%AUD/GBP0.5603,-0.001,-0.18%AUD/NZD1.0736,-0.002,-0.19%AUD/CAD0.99,-0.0003,-0.03%© AAP Stock image of Australian dollar.

The Australian dollar is slowly grinding higher, recovering after falling heavily in early Asian trade on Wednesday. The Australian dollar is back above the US 78 cent level, recovering from early losses on Wednesday.

The Australian dollar was tumbling - then Donald Trump stepped in. Skip to sections navigation Skip to content Skip to footer. They also helped the AUD /USD recover some of the losses seen earlier in the session.

a man holding a football ball© Provided by Business Insider Inc

The Australian dollar is slowly grinding higher, recovering after falling heavily in early Asian trade on Wednesday.

Here's the scoreboard as at 8am AEDT.

AUD/USD0.7826,-0.0001,-0.01%
AUD/JPY83,-0.05,-0.06%
AUD/CNH4.9460,0.0081,0.16%
AUD/EUR0.6304,-0.0005,-0.08%
AUD/GBP0.5627,-0.0008,-0.14%
AUD/NZD1.0734,0,0.00%
AUD/CAD1.0087,0.0014,0.14%

After falling to as low as .7772 on the back of Gary Cohn's resignation as Donald Trump's chief economic adviser, and speculation that the US could introduce tougher trade restrictions on China earlier in the session, the AUD/USD climbed off the mat over the course of European and US trade, hitting a high of .7829 shortly after US markets opened.

The Australian dollar isn't doing much as traders wait for a bigger event ahead

  The Australian dollar isn't doing much as traders wait for a bigger event ahead The Aussie dollar is almost unchanged from where it began the trading week Most traders are waiting for Jerome Powell's first public appearance as US Federal Reserve Chairman later todayHere's the scoreboard as at 7.55am AEDT.

The Australian dollar 's two-day recovery against the greenback faded as Australian shares suffered their biggest fall in five weeks, and Federal Reserve officials continued to soften up the market for reduced stimulus. Australian dollar falls after shares suffer big drop.

Following some surprisingly strong Australian data during Monday’s Asian session, the British Pound to Australian Dollar (GBP/ AUD ) exchange rate tumbled . Some analysts argued this indicated the sector was recovering following a poor performance earlier in the year.

There was little reaction to news that Australian GDP grew less-than-expected in the final three months of 2017, overridden by continued shifts in sentiment, and headlines, about the potential for a global trade war as a result of possible US import tariffs.

The AUD/USD currently sits at .7826, boosted by a recovery in US stocks following reports that Canada and Mexico may be excluded from potential US trade tariffs.

  The Australian dollar is recovering after an earlier tumble © Provided by Business Insider Inc

Against the crosses, the AUD weakened against all majors aside from the Chinese yuan and Canadian dollar, the latter coming under pressure from remarks from the Bank of Canada following its March monetary policy meeting that trade policy was becoming an “important and growing source of uncertainty”.

Australia, NZ dollars skid as yen powers ahead

  Australia, NZ dollars skid as yen powers ahead The Australian dollar hit a two-month trough on Thursday, undermined by mixed domestic data and speculative selling against the yen that took the cross rate to a nine-month low. The Aussie (AUD=D4) was down 0.5 percent at $0.7724, leaving its losses for the week at 1.5 percent, as the U.S. dollar benefited from talk of faster Federal Reserve rate hikes.Much of the move was driven by a broad surge in the yen, where investors were being forced to close short positions in the Japanese currency.The Aussie lost another 0.6 percent on Thursday to 82.30 yen (AUDJPY=R), having already shed 0.9 percent overnight.

The AUD /USD tumbled to a one-year low on Tuesday, weighed down by a resurgent US dollar . The US Federal Reserve will release its May interest rate decision later today — no change is expected. Here’s the Australian dollar scoreboard as at 7am AEST.

The pound falls to a 31-year low against the dollar and bank, airline and property shares tumble The pound fell 3.2% to .32260, having earlier hit a fresh 31-year low of .3151, sinking below the On Friday the blue-chip index had plunged more than 8% at one point before recovering some ground to

Turning to the session ahead, there's plenty of risk events for traders to navigate.

In Australia, international trade figures for January will be released at 11.30am AEDT.

After logging a large $1.36 billion deficit in December, markets expect the trade balance to swing back to surplus in January.

"We are forecasting a $600 million trade surplus in January, above consensus of $160 million," says Elias Haddad, Senior Currency Strategist at the Commonwealth Bank.

"A solid lift in commodity prices in the month should boost export values while imports are expected to cool after a 6% rise last month."

In what will no doubt get extra attention given simmering trade tensions between them and the United States, China will also release trade figures for February during the session.

From a year earlier, exports are expected to lift by 13.6% following 11.1% increase in January. Import growth over the same period is tipped to slow from 36.9% to 9.7%.

The Australian dollar is under pressure as trade war fears flare again

  The Australian dollar is under pressure as trade war fears flare again The Australian dollar fell heavily against most major crosses on Thursday Aussie rebounded on news the US will introduce new tariffs on steel and aluminium imports has sparked renewed concern among traders about the potential for a global trade war, a situation that many believe will harm the commodity-linked Aussie.Here's the scoreboard as at 8am AEDT.AUD/USD 0.7755, -0.0006, -0.08%AUD/JPY 82.38, -0.41, -0.50%AUD/CNH 4.9235, 0.0107, 0.22%AUD/EUR 0.6321, -0.0043, -0.68%AUD/GBP 0.5628, -0.0011, -0.20%AUD/NZD 1.0691, -0.0067, -0.62%AUD/CAD 0.9947, -0.0012, -0.12%After opening the session at .

The Australian dollar is tumbling on Friday, extending losses from earlier this week. The Aussie dollar was down by 0.8% at 0.7735 per US dollar at 10:11 a.m. ET. The currency tumbled after that report crossed.

These calls come at the tail end of week where the Australian currency has recoiled sharply from an earlier sell-off that pushed it close to a new two-year low against Pound Sterling and threatened a break below a AUD . The Australian Dollar Rises after RBA Signals it is On Course for 2019 Rate Rise.

A trade surplus of $US600 million is expected, down from $US20.34 billion in January.

Given the timing of Lunar New Year holidays, traders should expect the unexpected from this release -- it often surprises during this period every year.

There'll likely be plenty of interest on the trade surplus recorded with the United States.

Japan will also release revised Q4 GDP figures for the session. This is unlikely to interest traders with more focus on the Bank of Japan's March monetary policy decision that will arrive on Friday.

Later in the session, data highlights include German industrial orders along with Canadian housing starts, building permits and house price data.

On the central bank front, all attention will be on the release of the European Central Bank's (ECB) monetary policy announcement.

"The ECB is widely expected to make no monetary policy changes," says Haddad of the Commonwealth Bank.

"The risk is the ECB tweaks its forward guidance and removes from its statement that asset purchases are intended to run beyond September 2018 if necessary.

"This would lead to an upward revision to ECB interest rate expectations in favour of euro."

The policy announcement will be released at 11.45pm AEDT. That will be followed 45 minutes later by Mario Draghi's press conference.

Bank of Canada Governor Stephen Poloz will also speak during North American trade.

The Australian dollar is under pressure ahead of today's key US jobs report .
Falling commodity prices and US dollar strength weighed on the Australian dollar on Thursday. Here's the scoreboard as at 8.05am AEDT.

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