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Australian Dollar Declines as Trade Concerns Rise

2018-09-07 09:26 am | Resource: News | No Views : 243



 We are reviewing the Australian dollar against its major counterparts in the Asian session on Friday as investors continued to worry about possible escalation in the US-China trade war later in the day.

China has already warned of a reaction if the United States goes ahead with a new round of tariffs. The threat of car tariffs is also on the agenda as media reports suggest Japan may be the next target of US President Donald Trump's war.

Trump, a columnist for The Wall Street Journal, was reportedly told that he was "still troubled by the terms of US trade with Japan." "America is winning again" and is "being respected again," Trump said at a rally in Billings, Montana. He also said that Washington had reached new business deals, especially "a fair deal with Mexico, and we are negotiating with Canada, and we are doing good work with China," adding that the United States should "be treated fairly".

At the same time, the US Department of Labor is due to release its closely watched monthly payroll report, which includes public and private sector jobs.

Employment in the United States is likely to increase by 191,000 jobs in August, after an increase of 157,000 jobs in July. Unemployment is expected to fall to 3.8 per cent from 3.9 per cent.

Australia's construction sector continued to expand in August, albeit at a slower pace, with the construction performance index hitting 51.8, according to the latest Australian Industry Group survey. This is below 52.0 in July, although it is still above the 50 line or the arm that separates the stretch from contraction.
  • The Australian dollar fell to a four-day low of 1.0872 against the kiwi and 0.9380 against the Canadian dollar, from an early high of 1.0929 and 0.9471, respectively.
  • The Australian dollar fell to 0.7137 against the US dollar, its weakest level since February 2016. This could be compared with a rise of 0.7201
  • The Australian dollar fell to almost a two-year low of 78.96 against the yen and more than a 3-year low of 1.6285 against the euro, reversing from a previous high of 79.72 and 1.6128 respectively. P


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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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