The AUD/USD price remained under intense pressure as it crashed to the lowest level since January 6.
It fell to a low of 0.6816, about 4.75% below the year-to-date high. The Australian dollar was trading at 0.6877 on Monday.A key theme in the financial market was the strong US dollar comeback. The dollar index pared back most of the losses it made earlier this year as it surged to about $104.
Data from the US have painted a picture that the economy was doing well. The unemployment rate crashed to a multi-decade low of 3.40% as the job vacancy rate jumped to over 10 million people. Many industries like those in the hospitality and manufacturing sector are going through a major labor shortage.
The Reserve Bank of Australia has also insisted that it will maintain a hawkish tone in the coming months. Data published last week showed that the labor market remained under pressure as the unemployment rate rose in January. Inflation also remains above 7.8% while the Chinese economic recovery is not as strong as was expected.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
USD/JPY Forex Signal: Will Look Bearish Below \u00A5133.50In my previous forecast for the USD/JPY currency pair, I wrote that the price would continue to rise towards \u00A5132.88.
Les mer »
EUR/USD Forex Signal: Neutral Outlook With a Bearish BiasThe EUR/USD price made a small hammer pattern even as more Federal Reserve officials sounded more hawkish.
Les mer »
GBP/USD Forex Signal: More Downside to 1.1840 PossibleThe GBP/USD price rose slightly on Friday as a relatively busy week in the market.
Les mer »
AUD/USD Price Analysis: Retreats towards 0.6800 support confluenceAUD/USD takes offers to reverse the previous day’s corrective bounce off a six-week low, down 0.20% intraday near 0.6865 during early Monday. In doing
Les mer »
AUD/USD refreshes day high above 0.6880 as PBoC keeps LPR unchangedThe AUD/USD pair has refreshed its day’s high above 0.6880 in the Asian session as the People’s Bank of China (PBoC) has kept the Loan Prime Rate (LPR
Les mer »
AUD/USD clings to intraday gains around 0.6900 mark, lacks bullish convictionThe AUD/USD pair builds on Friday's goodish rebound from the vicinity of the 0.6800 mark, or its lowest level since January 6, and gains strong follow
Les mer »