Aussie very susceptible to the stronger Greenback

In currencies, the Australian dollar fell following a sharp drop in retail sales in August. Australia’s imports were also flat from the previous month, another sign of a sluggish domestic economy.

The Australian dollar was last at $0.7833 from $0.7856 before the data release. Its value could be further affected if the U.S. dollar continued its climb, said Stephen Innes, a senior trader at Oanda.

“It is becoming somewhat apparent that the Aussie is one of the currencies with the most to lose on the stronger USD narrative,” said Mr. Innes.

Fox Business

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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