Australian Dollar Climbs Amid Risk Appetite
April 18 2018 - 10:12PM
RTTF2
The Australian dollar climbed against its major counterparts in
the Asian session on Thursday, erasing its early losses, as
optimism about global economic growth and strong corporate earnings
results boosted investor sentiment.
Oil held steady near 2014-highs after reports that top oil
exporter Saudi Arabia would be happy to see crude prices surge up
to $100 a barrel over the coming months.
The aussie that briefly fell following the release of weaker
than employment report for March pared losses during the course of
the session.
Data from the Australian Bureau of Statistics showed Australia's
unemployment rate came in at a seasonally adjusted 5.5 percent in
March.
That was in line with expectations and unchanged from the
February reading following a downward revision from 5.6
percent.
The Australian economy added 4.900 jobs last month - well shy of
estimates for an increase of 20,000 following the increase of
17,500 in the previous month.
The aussie climbed to 1.0661 against the kiwi, its highest since
March 29. This may be compared to a low of 1.0608 hit at 6:45 pm
ET. The aussie is seen finding resistance around the 1.08
region.
The aussie advanced to a 2-week high of 0.9857 against the
loonie and a 5-week high of 0.7813 against the greenback, from its
early lows of 0.9817 and 0.7764, respectively. If the aussie rises
further, it may find resistance around 1.00 against the loonie and
0.80 against the greenback.
The aussie strengthened to a 6-day high of 83.94 against the yen
and a 3-day high of 1.5849 against the euro, up from its previous
lows of 83.40 and 1.5929, respectively. The aussie is likely to
find resistance around 85.00 against the yen and 1.56 against the
euro.
Looking ahead, Eurozone current account for February and U.K.
retail sales for March are due in the European session.
Federal Reserve Governor Lael Brainard will speak about
regulatory reform at the Global Finance Forum in Washington DC at
8:00 am ET.
In the New York session, U.S. weekly jobless claims for the week
ended April 14 and leading index for March are scheduled for
release.
Federal Reserve Governor Randal Quarles testifies on supervision
and regulation before the Senate Banking Committee in Washington DC
at 9:30 am ET.
The Bank of England Deputy Governor Jon Cunliffe will speak at
the Global Finance Forum in Washington DC at 12:30 pm ET.
AUD vs Yen (FX:AUDJPY)
Forex Chart
From Apr 2024 to May 2024
AUD vs Yen (FX:AUDJPY)
Forex Chart
From May 2023 to May 2024