AUD/USD drops 20 pips on weaker-than-expected Aussie data

  • AUD/USD is flashing red, having hit a session low of 0.6833 soon before press time. 
  • Australia's retail sales for November came in well below forecasts and trade surplus narrowed more than expected. 
  • The data may bolster dovish RBA expectations, keeping the AUD under pressure. 

The Australian dollar is being offered in response to the weaker-than-expected Aussie retail sales and trade balance numbers released at 00:30 GMT.

The growth in consumer spending, as represented by retail sales, stalled in November, missing the expected increase of 0.3% following October's 0.2% rise.

Meanwhile, the trade surplus, the gap between exports and imports, fell to A$ 4,502 million. The surplus was forecasted to drop to A$ 6,100 million from October's A$ 7,180 million.

The dismal data is likely to bolster the bets of additional easing by the Reserve Bank of Australia (RBA) in 2020. At press time, the central bank is to cut rates by 25 basis points to a new record low of 0.5% in February. Meanwhile, many Australian fund managers have already started preparing for unconventional policies like quantitative easing.

As a result, the AUD/USD pair is likely to remain under pressure during the day ahead. The pair has already dropped by 20 pips to hit a session low of 0.6833 in the last ten minutes.

AUD/USD created a classic Doji candle with a long lower shadow on Wednesday, as the below-forecast US data helped the pair recover early losses. The Institute for Supply Management (ISM) non-manufacturing activity index fell to 53.9 in November, down from 54.7, the data released on Wednesday showed. Notably, Manufacturing activity contracted for the fourth month in a row with new orders down to their lowest level since 2012. Meanwhile, the ADP National Employment data showed an increase of just 67,000 jobs, which was only about half the number expected.

Technical levels


Today last price 0.6836
Today Daily Change -0.0017
Today Daily Change % -0.25
Today daily open 0.6853
Daily SMA20 0.6815
Daily SMA50 0.6809
Daily SMA100 0.6816
Daily SMA200 0.6917
Previous Daily High 0.6856
Previous Daily Low 0.6812
Previous Weekly High 0.68
Previous Weekly Low 0.6754
Previous Monthly High 0.6929
Previous Monthly Low 0.6754
Daily Fibonacci 38.2% 0.6839
Daily Fibonacci 61.8% 0.6829
Daily Pivot Point S1 0.6825
Daily Pivot Point S2 0.6797
Daily Pivot Point S3 0.6782
Daily Pivot Point R1 0.6869
Daily Pivot Point R2 0.6884
Daily Pivot Point R3 0.6912



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

GBP/USD off 7-month highs, still firmer as Tories hold the lead

GBP/USD retraces from the new seven-month highs of 1.3180 but remains strongly bid, as weekend polls have reaffirmed a solid lead for PM Johnson's Conservatives. Cable dropped on Friday amid upbeat US data.


EUR/USD steadying above 1.1050 amid upbeat German export data

EUR/USD is trading above 1.1050, attempting a recovery after Germany reported an increase in exports in October. EUR/UDS dropped sharply on Friday amid upbeat US Non-Farm Payrolls and weak German industrial output. 


Forex Today: US-Sino trade tensions prevail, Boris closer to victory, EUR/USD licking its wounds

Trade talks: President Donald Trump has called on the World Bank to stop lending to China, a move that may aggravate tensions, with only six days to go until Washington is set to slap new tariffs on Beijing. Negotiations continue.

Read more

Gold: Sidelined after biggest daily decline in four weeks

Gold is lacking a clear directional bias in Asia, having registered its biggest single-day decline in four weeks on Friday. China's data may embolden President Trump to take more aggressive measures. 

Gold News

USD/JPY in search of a firm direction, stuck in a range above mid-108.00s

USD/JPY was seen oscillating in a narrow band and consolidated last week’s losses. US-China trade uncertainties continued underpinning the JPY’s safe-haven status. Investors now seemed reluctant ahead of the latest FOMC monetary policy update.