U.S. dollar start to the week with further losses
The U.S. dollar has continued its losses from last Friday at the start of the new trading week. The AUD can continue to grow.
Feared restraint at the Fed
After the disappointing figures on U.S. non-farm payrolls at the end of the last week, skepticism grows among investors about the actions of the Fed at its next meeting on 17 and 18 September. The U.S. dollar in the last weeks, benefited mostly from good U.S. economic and labor market data and the resulting speculation that the Fed in September do the first step to reduce the bond purchases. On Friday these speculations, through data that were significantly behind the forecasts, were drawn in serious doubt. While the forecasts saw 180K jobs created, there were actually only 169K and 152K. A complicating factor was, that the numbers of 02 August were revised down for 58K and 34K.
After initial speculation the Fed could at $ 20 billion reduce their current monthly purchases of $ 85 billion per month, a sum of 10 billion was favored by analysts recently. After the numbers from last Friday now grow concern that the number could down even further, if not even be zero, be corrected.
The USD had to record against almost all of its most-traded counterparts some heavy losses during the day. The pair EUR/USD rises to 0.60% currently at 1.3259 and is thus clearly above the mark by 1.32. Compared to the GBP the U.S. dollar lost currently 0.45% at a price of 1.5701. The current loss against the CHF is 0.57% at 0.9320.
Against the JPY the USD could benefit from its weakness and the pair USD/JPY rises to 0.46% at a current rate of 99.57.
AUD continues in Uptrend
The Australian dollar could continue to benefit from the positive outlook in the Asian region today. In addition, investors seem to place more confidence in the newly elected Conservative government at the weekend. Of this was made clear before the election that they different strains of the economy, which had established the Labor government, such as CO² tax, to undo.
The AUD was reported today against most of its major counterparts, an increase, but the he lost again partially in late trading. The pair AUD/USD rises to 0.51% currently at 0.9236 and AUD/JPY shows a current rate of 91.99, representing an increase of 0.99%.
Against the EUR, the AUD currently losing 0.09% at a price of 1.4354, after a day's low of 1.4298 and against the CHF -0.09% currently at 0.8608 and a daily low of 0.8985.
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