Mixed Aussie data fails to make shakes in AUD/USD

Australian data dump arrived showing that the January Retail Sales +0.5% missed expectation of a Reuters poll +0.6% month on month and that the Australia Jan balance goods and services arrived at  A$+10,142 mln vs a Reuter's poll of A$+6,500 mln.

  • Exports +6 pct MoM.
  • Imports -2 pct MoM.

The Aussie data is being watched closely as the forex space outs their bets on the commodity complex to outperform in a reflation trade environment. 

Reuters explained that ''emerging market currencies of commodity-exporting nations are set to firm over the next 12 months as the world recovers from the coronavirus pandemic - and despite recent rises in US Treasury yields, a Reuters poll found on Thursday.''

''High-beta emerging market currencies, which last year achieved their best year since 2017 with gains of over 3%, have been in question after the benchmark 10-year US Treasury yield hit a one-year high last week.''

''Still, as investors ponder whether the world is entering a commodities cyclical upturn or a new supercycle, commodity-linked currencies are already firmer due to expectations of a boom.''

''Currencies of historically strong commodity exporters will trade resiliently.'' 


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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Get Weekly Crypto trade ideas!  
Empower yourself with the best market insights

Join FXStreet Premium!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD slips below 1.2050 amid dollar strength

EUR/USD is trading below 1.2050, losing some of its gains as the dollar shrugs off the fresh drop in yields and rises. European regulators said the benefits of J&J's vaccine outweigh the risks.


GBP/USD retreats from 1.40 despite upbeat UK job figures

GBP/USD is extending its falls after retreating from 1.40 as the dollar edges higher. Earlier, the UK reported a drop in the unemployment rate to 4.9%, better than expected. The Claimant Count Change also beat estimates with 10.1K. 


XAU/USD tests key Fibo resistance at $1,775

XAU/USD rebounds after closing in the negative territory on Monday. 10-year US Treasury bond yield is edging lower on Tuesday. Additional gains are likely if gold manages to clear $1,775 resistance.

Gold News

Ethereum price on cusp of massive breakout if key level holds

Ethereum price had a significant 23% correction in the past week but holds above a key support level on the 12-hour chart. The digital asset still has robust on-chain metrics supporting it and aims for a rebound.

Read more

S&P 500 (SPX) Update: Equity markets take a well deserved breather, crypto stocks slide

Equity markets took a much-needed break from setting record highs on Monday. Tesla suffered a steep 5% fall after reports of a crash with no one at the wheel. Have a Coke and a smile was up 1% as KO smashed earnings estimates.

Read more