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Weekly roundup: Australian dollar wobbles lower amid souring market mood

currency-newsWeekly roundup: Australian dollar wobbles lower amid souring market mood
The Australian dollar slipped early last week after a higher-than-forecast Chinese CPI dashed hopes for more-favourable monetary policy from the People’s Bank of China (PBoC), thereby weighing on the China-proxy ‘Aussie’ dollar.

An unexpected rise in Australia’s NAB business confidence report then boosted AUD, with business morale jumping to a five-month high.

However, a downbeat market mood weighed on the risk-sensitive currency through the rest of the week.

Meanwhile, Australian employment data missed forecasts, adding to the downside.

This week, AUD has also been caught up in the current choppy trading conditions, wavering against most of its peers.

A lack of notable Australian data could leave the ‘Aussie’ to trade primarily on risk sentiment as the week unfolds.

We’re here to talk currency whenever you need us, so get in touch if you want to know more about the latest news or how it could impact your currency transfers.
Philip McHugh

Philip McHugh

Joining the corporate trading desk in 2007, Phil now over sees all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure

Phil has FCA approval and has completed the Certificate in International Treasury Management (CertiTM)

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