OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD easing slightly with falling auction clearance rates – Westpac

FXStreet (Delhi) - Sean Callow, Research Analyst at Westpac, notes that the AUD/USD eased slightly lower from 0.7290 late Sydney to 0.7260 early Monday as auction clearance rates fell on Saturday, NSW to 67%, Victoria to 74%.

Key Quotes

“A lot of housing supply is on offer next Saturday too, testing buyer confidence after Westpac’s increase in mortgage rates, which for now at least is not matched by other lenders. AUD/USD support on the day looks to lie around 0.7225.”

“Friday’s CFTC data showed a reduction in AUD short positions among directional accounts, though not dramatically. Leveraged funds trimmed AUD net shorts from -35.6k contracts to -27.0k while asset managers’ stance edged in from -19.2k to -17k.”

Gold drops to $ 1171 as China GDP boosts sentiment

Gold prices on the Comex dropped sharply in Asia, after booking weekly gains last week, as upbeat Chinese GDP data eased concerns over China's growth prospects, dulling gold’s demand as a safe-haven.
Read more Previous

Australian markets on alert in anticipation of surprise rate-cut from RBA - Westpac

Bill Evans, Chief Economist at Westpac, suggests that the Australian markets are on alert for an unexpected near term rate cut from the RBA in response to Westpac’s decision to raise the variable mortgage rate by 20 basis points.
Read more Next
Start livechat