{"id":82166,"date":"2019-11-15T09:00:21","date_gmt":"2019-11-15T14:00:21","guid":{"rendered":"https:\/\/currencylive.com\/?p=82166"},"modified":"2019-11-15T09:16:26","modified_gmt":"2019-11-15T14:16:26","slug":"101511-aud-usd-aussie-dollar-struggles-at-0-68-on-trade-optimism-us-retail-sales","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101511-aud-usd-aussie-dollar-struggles-at-0-68-on-trade-optimism-us-retail-sales\/","title":{"rendered":"AUD\/USD: Aussie Dollar Struggles at $0.68 On Trade Optimism & US Retail Sales"},"content":{"rendered":"

Increased optimism over a US China trade deal has helped lift the Australian dollar versus the US dollar<\/a> on Friday. The pair gained 0.2% in early trade; however, it is struggling to move meaningfully beyond US$0.6800 a key level for technical traders.<\/p>\n

The Australian dollar rallied in early trade after White House Adviser Larry Kudlow indicated that progress was being made towards a trade deal between US \u2014 China. Larry Kudlow said that a trade deal \u201cwas coming down to the short strokes\u201d. Adding to trade deal optimism US Commerce Secretary Wilbur Ross said that there was a very high probability that the US will reach a trade deal with China. Whilst neither offered any new details, sentiment has been enough to cautiously lift the Aussie dollar.<\/p>\n

After a week of mixed messages investors have responded cautiously to this latest show of optimism towards a phase one trade deal. The Australian dollar has risen because China is Australia\u2019s main trading partner. A deal with the US would boost the Chinese economy, which would be beneficial for the Australian economy and lift the Australian dollar.<\/p>\n

Aussie dollar gains are being capped by the escalating troubles in Hong Kong.<\/p>\n

Dollar Reaction Muted After US Retail Sales Impress<\/strong><\/h3>\n

The improvement in risk sentiment weighed on the US dollar in early trade on Friday. As the mood music surrounding the US \u2014 China trade deal improved investors have been prepared to take on more risk. As a result, the safe haven US dollar has edged lower.<\/p>\n

US retail sales numbers were the main attraction on the US economic calendar. After a particularly weak month in September where sales actually declined by -0.2%, investors were please to see that the US consumer continued spending in October. Retail sales increased a solid 0.3% month on month in October, ahead of the 0.2% increase that analysts had pencilled in.<\/p>\n

Retail sales figures are notoriously volatile. However, today\u2019s data suggests that the current slowdown in the US manufacturing sector amid the ongoing US \u2014 China trade dispute, is not spilling over into the consumer sector; the dominant sector in the US economy.<\/p>\n

 <\/p>\n\n\n\n\n
What do these figures mean?<\/b><\/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.<\/span><\/p>\n

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

1 USD = 0.6784 AUD<\/span><\/i><\/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.\u00a0<\/span><\/p>\n

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

1 AUD = 1.4739 USD<\/span><\/i><\/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.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\n
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Currencylive.com is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any 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 on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"

Increased optimism over a US China trade deal has helped lift the Australian dollar versus the US dollar on Friday. The pair gained 0.2% in early trade; however, it is struggling to move meaningfully beyond US$0.6800 a key level for technical traders. The Australian dollar rallied in early trade after White House Adviser Larry Kudlow […]<\/p>\n","protected":false},"author":163946597,"featured_media":4726,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1547,1381],"tags":[1540,1578,1541,1430,1415,1479,1431,1400,1397,1398],"class_list":{"0":"post-82166","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-aud","8":"category-usd","9":"tag-aud","10":"tag-aussie-dollar","11":"tag-australian-dollar","12":"tag-retail-sales","13":"tag-trade-dispute","14":"tag-trade-talks","15":"tag-trade-war","16":"tag-trump","17":"tag-us-dollar","18":"tag-usd"},"acf":[],"yoast_head":"\nAUD\/USD: Aussie Dollar Struggles at $0.68 On Trade Optimism & US Retail Sales - 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\/101511-aud-usd-aussie-dollar-struggles-at-0-68-on-trade-optimism-us-retail-sales\/\" \/>\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\\\/101511-aud-usd-aussie-dollar-struggles-at-0-68-on-trade-optimism-us-retail-sales\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101511-aud-usd-aussie-dollar-struggles-at-0-68-on-trade-optimism-us-retail-sales\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"AUD\\\/USD: Aussie Dollar Struggles at $0.68 On Trade Optimism & US Retail Sales\",\"datePublished\":\"2019-11-15T14:00:21+00:00\",\"dateModified\":\"2019-11-15T14:16:26+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101511-aud-usd-aussie-dollar-struggles-at-0-68-on-trade-optimism-us-retail-sales\\\/\"},\"wordCount\":735,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101511-aud-usd-aussie-dollar-struggles-at-0-68-on-trade-optimism-us-retail-sales\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100565-gbp-eur-uk-retail-sales-data.jpg\",\"keywords\":[\"aud\",\"Aussie dollar\",\"australian dollar\",\"retail sales\",\"trade dispute\",\"trade talks\",\"trade war\",\"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\\\/101511-aud-usd-aussie-dollar-struggles-at-0-68-on-trade-optimism-us-retail-sales\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101511-aud-usd-aussie-dollar-struggles-at-0-68-on-trade-optimism-us-retail-sales\\\/\",\"name\":\"AUD\\\/USD: Aussie Dollar Struggles at $0.68 On Trade Optimism & US Retail Sales - 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