Australian dollar up on AAA rating

13 May, 2015

The Australian dollar is trading higher today after a lower than expected budget from Treasurer Joe hockey reaffirmed the countries triple AAA credit rating, which had been under threat for some time.

The Aussie currency hit a high of US79.98c up from US 78.88c in yesterday’s trade.

Commonwealth Securities chief economist Craig James said the budget was a factor in the dollar’s rise but the news about the credit rating was the major factor,

"The Aussie has benefited from the fact all three ratings agencies came out and said the triple-A rating was safe shortly after the budget, but it's the US dollar movement more than anything else." He said

The Australian dollar was also boosted by strong lending figures that hit the market which confirms some analysts’ predictions that the Reserve Bank of Australia is done with the latest rate cutting cycle.

The central bank has slashed the benchmark interest rate in Australia from 2.25% to 2% since February.

 “Investment lending numbers were substantially better than expected,” noted IG market strategist Evan Lucas

“Along with home loans which suggests the RBA has another reason to move away from another rate cut,” he added.


Source link  
Oil needs Opec cuts

The latest tumble in the oil price has now reached gigantic levels, almost equaling the declines reached during the global financial crisis and according to some analysts, we may...

Gold price has rallied sharply

A declining stock market is always good for gold as investors look for somewhere safe to ride out the uncertainty. Precious metals are seeing buying...

Pound surges, rate hike may follow

The British pound is powering ahead today against its US counterpart as more positive data raises speculation that a rate hike from the Bank...


Gold may rally towards years end

After a horror 6 months the gold price has found much needed support over the last 4 weeks and is now sitting above the $1,200 mark and depending...

New tariffs lift US dollar

As widely expected, US President Donald Trump has slapped another $200 billion worth of tariffs on Chinese goods which has caused a lift in the US dollar today against the major...

Will the US dollar jump on Thursday?

The US China trade war has now come to the top of the headlines again with US President Donald Trump keen to go ahead with an extra $200 billion...


Big Money is avoiding the pound

Just when we thought that a deal between the European Union and Great Britain was in the making and thus avoiding a hard Brexit, another spanner...

Pound gains on Brexit negotiations

The British pound has surged back through the $1.30 mark after progress made today on Brexit negotiations raised speculation that a deal...

IEA report siks oil

The oil price had a rough time last week, hitting its lowest level since join after a report by the energy watchdog showed rising inventories which raises concerns over global growth...


In the past 24 hours Bitcoin has lost -1.01% and reached $3450.01333998. Open your trading account with the best cryptocurrency brokers on special terms today.

In the past 7 days the EUR/USD pair has lost -0.4129% and is now at $1.1327. Start trading and making money on Forex today.

In the past 7 days Ethereum has lost -16.92% and is now at $89.8322053016. Have the most popular cryptocurrencies compared online 24/7.


Top Brokers offering Daily Forex Market Reviews


Forex Currencies Forecasts


Top 10 Forex Brokers 2018

# Broker Review
1easyMarketseasyMarkets92%
2FXTMFXTM88%
3HYCMHYCM87%
4Alfa-ForexAlfa-Forex86%
5FxProFxPro85%
6FIBO GroupFIBO Group84%
7OctaFXOctaFX83%
8HotForexHotForex82%
9AvaTradeAvaTrade80%
10FXCMFXCM78%
  


Share: