FOREX TradingCharts.com

Forex News: Australian Dollar Strengthens After Strong Inflation Data

Australian Dollar Strengthens After Strong Inflation Data

01/29/2020 - 02:53:00 (RTTNews)

(RTTNews) - The Australian dollar appreciated against its major counterparts in the Asian session on Wednesday, as a data showed that the nation's consumer inflation beat expectations on year in the fourth quarter.

Data from the Australian Bureau of Statistics showed that inflation gained 1.8 percent on an annual basis.

That topped forecasts for 1.7 percent, which would have been unchanged from the Q3 reading.

Consumer prices advanced 0.7 percent on quarter in the fourth quarter of 2019. That beat expectations for a gain of 0.6 percent and was up from 0.5 percent in the three months prior.

Asian stock markets were mostly higher following the overnight rebound on Wall Street. Nevertheless, investors remained cautious as they kept an eye on developments related to the coronavirus outbreak in China. According to Chinese health officials, the coronavirus outbreak has killed 132 people and infected 5,974 people.

The aussie climbed to 2-day highs of 0.6777 against the greenback and 74.01 against the yen, from its early lows of 0.6755 and 73.69, respectively. The next possible resistance for the aussie is seen around 0.71 against the greenback and 76.5 against the yen.

The aussie rose to a 2-day high of 1.6250 against the euro and a 6-day high of 1.0370 against the kiwi, off its early low of 1.6315 and a 2-day low of 1.0315, respectively. On the upside, 1.60 and 1.05 are likely seen as the next resistance levels for the aussie against the euro and the kiwi, respectively.

Reversing from its early low of 0.8891 against the loonie, the aussie edged up to 0.8919. If the aussie rises further, 0.91 is seen as its next resistance level.

Looking ahead, Swiss economic sentiment index for January and Eurozone money supply for December are scheduled for release in the European session.

U.S. wholesale inventories, advance goods trade data and pending home sales for December are due in the New York session.

The Federal Reserve announces its interest rate decision at 2:00 pm ET. Economists widely expect the central bank to keep benchmark rate in a range of 1.50 percent to 1.75 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2020 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT FOREX and ECONOMIC NEWS STORIES


Pound Spikes Up After Positive UK PMI Data (29 min(s), 51 sec(s) ago)
(RTTNews) - The pound firmed against its major counterparts in the European session on Friday, aft ...Full Story»

Euro Advances As German Manufacturing PMI Rises To 13-month High (02 hr(s), 21 min(s), 09 sec(s) ago)
(RTTNews) - The euro appreciated against its most major counterparts in the European session on Fr ...Full Story»

Euro Little Changed Following Eurozone CPI (03 hr(s), 51 min(s), 08 sec(s) ago)
(RTTNews) - After the release of Eurozone final consumer prices at 5.00 am ET Friday, the euro cha ...Full Story»

Euro Mixed Ahead Of Eurozone CPI (04 hr(s), 0 min(s),08 sec(s) ago)
(RTTNews) - At 5.00 am ET Friday, Eurostat publishes euro area final consumer prices for January. ...Full Story»

Pound Rises After U.K. PMI Data (04 hr(s), 21 min(s), 08 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the UK CIPS/Markit composite PMI survey results have been releas ...Full Story»

Pound Mixed Ahead Of U.K. PMI Data (04 hr(s), 33 min(s), 09 sec(s) ago)
(RTTNews) - At 4.30 am ET Friday, the UK CIPS/Markit composite PMI survey results are due. A ...Full Story»

Euro Little Changed After Eurozone PMI (04 hr(s), 54 min(s), 09 sec(s) ago)
(RTTNews) - At 4.00 am ET Friday, IHS Markit has published Eurozone flash composite PMI data. Foll ...Full Story»

Euro Higher Ahead Of Eurozone PMI (05 hr(s), 03 min(s), 08 sec(s) ago)
(RTTNews) - At 4.00 am ET Friday, IHS Markit publishes Eurozone flash composite PMI data. Ah ...Full Story»

Search

FOREX NEWS

Pound Spikes Up After Positive UK PMI Data

02/21/2020 - 09:29 AM (RTTNews)
(RTTNews) - The pound firmed against its major counterparts in the European session on Friday, aft ...Full Story>>

Euro Advances As German Manufacturing PMI Rises To 13-month High

02/21/2020 - 06:37 AM (RTTNews)
(RTTNews) - The euro appreciated against its most major counterparts in the European session on Fr ...Full Story>>

Euro Little Changed Following Eurozone CPI

02/21/2020 - 05:07 AM (RTTNews)
(RTTNews) - After the release of Eurozone final consumer prices at 5.00 am ET Friday, the euro cha ...Full Story>>

Euro Mixed Ahead Of Eurozone CPI

02/21/2020 - 04:58 AM (RTTNews)
(RTTNews) - At 5.00 am ET Friday, Eurostat publishes euro area final consumer prices for January. ...Full Story>>

Pound Rises After U.K. PMI Data

02/21/2020 - 04:39 AM (RTTNews)
(RTTNews) - At 4.30 am ET Friday, the UK CIPS/Markit composite PMI survey results have been releas ...Full Story>>
Copyright © 2020. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.