{"id":11415,"date":"2019-10-08T12:00:08","date_gmt":"2019-10-08T16:00:08","guid":{"rendered":"https:\/\/currencylive.com\/?p=11415"},"modified":"2019-10-08T11:32:47","modified_gmt":"2019-10-08T15:32:47","slug":"101224-aud-usd-australian-dollar-eases-back-from-high-as-trade-fears-grow","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101224-aud-usd-australian-dollar-eases-back-from-high-as-trade-fears-grow\/","title":{"rendered":"AUD\/USD: Australian Dollar Eases Back From High As Trade Fears Grow"},"content":{"rendered":"

The Australian dollar slipped lower versus the US dollar on Monday. The pair lost 0.5% in the previous session, closing at US$0.6773. The Australian dollar US dollar exchange rate pared those losses on Tuesday hitting a high of US$0.6766, before moving lower once again.<\/p>\n

The Australian dollar recovered losses from the first trading day on the week. The Aussie initially moved higher on Tuesday on optimism that the Australian economy could be slowly turning a corner. The National Bank of Australia reported an improvement in business conditions. Whilst business conditions and confidence remain below average levels, the negative trend appears to be bottoming out.<\/p>\n

 <\/p>\n\n\n\n\n
Why does strong economic data boost a country\u2019s currency?<\/strong><\/td>\n<\/tr>\n
Solid economic indicators point to a strong economy. Strong economies have strong currencies because institutions look to invest in countries where growth prospects are high. These institutions require local currency to invest in the country, thus increasing demand and pushing up the money\u2019s worth. So, when a country or region has good economic news, the value of the currency tends to rise.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Today\u2019s data, plus better than expected retail sales earlier in the week support comments by Reserve Bank of Australia\u2019s Governor Dr Philip Lowe\u2019s last week, that the Australian economy was reaching a \u201cgentle turning point\u201d.<\/p>\n

Investors will now turn their attention to Australian consumer confidence figures which will be released later. Investors watch consumer sentiment levels closely because confident consumers tend to spend more, boosting the economy and inflationary pressures.<\/p>\n

Weak Data, Trade Woes & Fed Powell Up Next<\/strong><\/h3>\n

The US dollar spent the early part of the session under moderate selling pressure as weak data increased concerns over the health of the US economy.<\/p>\n

US small business optimism fell to nearly the lowest level since Trump became President. The National Federation of Independent Business\u2019 optimism index dropped 1.3 points to 101.8 in September. This is the third time that it has declined in four months.<\/p>\n

US producer price index, which measures inflation at factory level also printed below expectations. Today\u2019s data add to signs that the US economy is cooling, although not quite yet slipping into recession.<\/p>\n

Despite the weak data, the dollar gained traction as trading progressed, as investors sought the greenback for its safe haven qualities. A report that the White House is moving towards restrictions on investments in China is undercutting any investor optimism ahead of the US – China trade talks restarting on Thursday.<\/p>\n

Investors will now look ahead to a speech by Federal Reserve Chair Jerome Powell for further clues as to what the central bank intends to do with monetary policy in light of the slowing economy.<\/p>\n

 <\/p>\n\n\n\n\n
What do these figures mean?<\/strong><\/td>\n<\/tr>\n
When measuring the value of a pair of currencies, one set equals 1 unit and the other shows the current equivalent. As the market moves, the amount will vary from minute to minute.<\/p>\n

For example, it could be written:<\/p>\n

1 USD = 0.6784 AUD<\/em><\/p>\n

Here, $1 is equivalent to approximately A$0.67. This specifically measures the US dollar\u2019s worth against the Australian dollar. If the Aussie dollar amount increases in this pairing, it\u2019s positive for the US dollar.<\/p>\n

Or, if you were looking at it the other way around:<\/p>\n

1 AUD = 1.4739 USD<\/em><\/p>\n

In this example, A$1 is equivalent to approximately $1.47. This measures the Australian dollar\u2019s worth versus the US Dollar. If the US dollar number gets larger, it\u2019s good news for the Aussie dollar.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

This publication is provided as general information only and is not intended as an exhaustive treatment of its subject. TransferWise Inc. and its affiliates (“we” or “us”) expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of this publication, and you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax, investment or other professional advice from us.\u00a0 We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

The Australian dollar slipped lower versus the US dollar on Monday. The pair lost 0.5% in the previous session, closing at US$0.6773. The Australian dollar US dollar exchange rate pared those losses on Tuesday hitting a high of US$0.6766, before moving lower once again. The Australian dollar recovered losses from the first trading day on […]<\/p>\n","protected":false},"author":163946597,"featured_media":5364,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[1606,1578,1541,1607,1447,1608,1400,1397,1398],"class_list":["post-11415","post","type-post","status-publish","format-standard","has-post-thumbnail","category-aud","category-usd","tag-aus","tag-aussie-dollar","tag-australian-dollar","tag-business-confidence","tag-ppi","tag-trade-fed","tag-trump","tag-us-dollar","tag-usd"],"acf":[],"yoast_head":"\nAUD\/USD: Australian Dollar Eases Back From High As Trade Fears Grow - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101224-aud-usd-australian-dollar-eases-back-from-high-as-trade-fears-grow\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101224-aud-usd-australian-dollar-eases-back-from-high-as-trade-fears-grow\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101224-aud-usd-australian-dollar-eases-back-from-high-as-trade-fears-grow\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"AUD\\\/USD: Australian Dollar Eases Back From High As Trade Fears Grow\",\"datePublished\":\"2019-10-08T16:00:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101224-aud-usd-australian-dollar-eases-back-from-high-as-trade-fears-grow\\\/\"},\"wordCount\":716,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101224-aud-usd-australian-dollar-eases-back-from-high-as-trade-fears-grow\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100906-gbp-eur-pound-rebounds-extension.jpg\",\"keywords\":[\"aus\",\"Aussie dollar\",\"australian dollar\",\"business confidence\",\"ppi\",\"trade fed\",\"trump\",\"us dollar\",\"usd\"],\"articleSection\":[\"AUD\",\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101224-aud-usd-australian-dollar-eases-back-from-high-as-trade-fears-grow\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101224-aud-usd-australian-dollar-eases-back-from-high-as-trade-fears-grow\\\/\",\"name\":\"AUD\\\/USD: Australian Dollar Eases Back From High As Trade Fears Grow - 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