Forex News

The Australian dollar strengthened today as the pace of Australia’s economic growth was fastest in three years and after the reports showed that the manufacturing in the US and China expanded faster than predicted.

Both Australian and New Zealand currencies benefited from the speculations that the Japanese authorities will have to use currency intervention to hold down the yen’s growth.

The Australian dollar fell against all of its major counterparts at today’s Forex market opening, as Australia may be left without a majority government for the first time since 1940. The Aussie has immediately entered an uptrend after this negative opening.

This week was volatile for the Australian dollar, but it generally declined against most other major currencies as the concern for the economic growth continues to haunt the markets.

The Australian dollar fell today against the Japanese yen on the speculation that Japan’s central bank will refrain from curbing the yen’s gains and after Australia’s wages growth slowed. The Aussie also dropped versus the greenback.

The Australian dollar rallied against its US counterpart today after the Asian stocks rose, increasing the demand for the riskier higher-yielding currencies, and on the improving outlook for the global economic growth.

The Australian and the New Zealand dollars fell today after the jobless claims in the US rose unexpectedly and equities dropped, damping the investors’ willingness to risk and decreasing the appeal of the higher-yielding currencies.

The Australian dollar fell today as the signs of the slower economic growth, particularly in the US and China, damped the demand for the riskier currencies.

The Australian dollar rose today and is heading for the third weekly gain versus the greenback as today’s report expected to show that the US employment decreased.

The Australian dollar reached today the highest level in almost three months versus its US counterpart and advanced against the Japanese yen as the signs of the robust economic growth supported the outlook for the unchanged interest rates and spurred the demand for the higher-yielding assets. The currency fell versus the euro.