From mint · · 1m 20s
Aussie Dollar Hits July Low as RBA Hike Bets Fade
Australian dollar drops to lowest level since early July after weak labor data and fading RBA rate hike expectations.
In brief
Australian dollar drops to lowest level since early July after weak labor data and fading RBA rate hike expectations. Australian dollar fell to its lowest level since early July as weak labor data and reduced expectations of Reserve Bank of Australia rate hikes pushed traders to scale back interest rate forecasts…
Australian dollar declines
The Australian dollar touched the lowest level since early July after domestic labor data pushed traders to scale back expectations of interest rate increases from the Reserve Bank of Australia.
Labor market weakens
Australia’s higher unemployment and job losses last month showed signs of a softer labor market, limiting the chances of another rate increase from the central bank.
Deutsche Bank analyst comments
Tim Baker, head of foreign-exchange research for the Americas at Deutsche Bank, said the surprise rise in unemployment has been a clear drag on the Australian dollar, raising the risk that the RBA has hiked…
AI selloff impacts currency
The artificial-intelligence selloff hasn’t helped the Australian dollar as the currency is sensitive to risk appetite.
Stocks slide as AI trade declines
Stocks have been sliding as a decline in the AI trade gathered speed and pushed investors to seek safety in bonds.
What matters most
Australian dollar fell to its lowest level since early July as weak labor data and reduced expectations of Reserve Bank of Australia rate hikes pushed traders to scale back interest rate forecasts.
