🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Forex - AUD/USD slips lower after downbeat Australia data

Published 12/11/2013, 02:49 AM
Aussie slips lower after downbeat Australia data
AUD/USD
-
EUR/AUD
-
Investing.com - The Australian dollar slipped lower against its U.S. counterpart on Wednesday, weighed by downbeat consumer sentiment data out of Australia, while uncertainty over the future of the Federal Reserve's stimulus program dented demand for the greenback.

AUD/USD hit 0.9123 during late Asian trade, the session low; the pair subsequently consolidated at 0.9117, shedding 0.36%.

The pair was likely to find support at 0.9071, the low of September 9 and resistance at 0.9196, the high of November 25.

In a report, the Westpac Banking Corporation said consumer sentiment in Australia declined 4.8% in December, after a 1.9% increase the previous month.

Meanwhile, the greenback remained under pressure amid expectations that the Fed will hold off on tapering its USD85 billion-a-month asset purchase program at its upcoming policy meeting scheduled for December 17-18, despite last week’s stronger-than-forecast U.S. nonfarm payrolls report.

The Aussie was lower against the euro, with EUR/AUD rising 0.42% to 1.5103.


Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.