Forex - AUD/USD holds steady near 2-1/2 week lows
Investing.com
Published Sep 24, 2015 02:34AM ET
Aussie hovers near 2-1/2 week trough vs. dollar ahead of Yellen speech
Investing.com - The Australian dollar held steady near two-and-a-half week lows against its U.S. counterpart on Thursday, as investors remained cautious ahead of a speech by Federal Reserve Chair Janet Yellen scheduled later in the day.
AUD/USD hit 0.6992 during late Asian trade, the session low; the pair subsequently consolidated at 0.6997.
The pair was likely to find support at 0.6942, the low of September 10 and resistance at 0.7095, Wednesday's high.
The greenback strengthened broadly after comments by some Fed officials Monday night indicated that a U.S. rate hike is still on the cards this year.
St. Louis Fed President James Bullard and Atlanta Fed President Dennis Lockhart indicated in separate remarks that the U.S. central bank is still likely to raise short-term interest rates this year.
Investors were now looking ahead to a speech by Fed Chair Janet Yellen later Thursday for additional clarity on the bank’s decision last week to leave interest rates on hold.
The Aussie was lower against the New Zealand dollar, with AUD/NZD shedding 0.32% to 1.1119.
Earlier Thursday, Statistics New Zealand reported that the country's trade deficit widened to NZ$1,035 million in August from NZ$649 million the previous month. Analysts had expected the trade deficit to widen to NZ$850 million last month.
Get The News You Want
Written By: Investing.com
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.