Start Trading Now Get Started
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: Australian Inflation Runs Hot

By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

Annualized Australian inflation unexpectedly rose from 6.3% to 6.8%, increasing the case for further hikes from the RBA, sending the Aussie to a 6-month low against the US Dollar.

Top Forex Brokers

1
Get Started 74% of retail CFD accounts lose money Read Review
  1. Australian inflation data released a few hours ago showed Aussie CPI running unexpectedly hot, presenting an annualized inflation rate increasing from 6.3% to 6.8% when it had been expected to increase only very marginally, to 6.4%. This will increase the probability of further rate hikes from the RBA. Following the release, the Aussie is falling with notable bearish momentum, with the AUD/USD currency pair trading at a 6-month low price.
  2. The US debt limit deal has been passed by a congressional committee, sending the deal for a full vote of the House. It is strongly expected to pass.
  3. The Chinese stock market is falling strongly, with the HSI trading at a new 6-month low, acting as a drag on global stock markets, most of which declined yesterday. However the NASDAQ 100 Index reached a new 1-year high yesterday before selling off later in the session.
  4. In the Forex market, the US Dollar is rising again, against its long-term bearish trend. Action has been dominated so far today by weakness in the New Zealand Dollar and strength in the Japanese Yen. However, trend traders will probably still be looking for long trades in the USD/JPY currency pair which recently reached a new 6-month high price while short NZD/USD and AUD/USD will also be attractive. The Kiwi remains weak after the RBNZ last week signalled that its terminal rate had been reached in a surprise move.
  5. Yesterday’s release of US CB Consumer Confidence data came in slightly better than expected.
  6. There will be a release later today of German Preliminary CPI (inflation) data, which is expected to show month-on-month inflation falling from 0.4% to 0.2%.
  7. There will be a release later today of Canadian GDP data, which is expected to show a small monthly decrease in economic growth, by 0.1%.
  8. There will be a release later today of US JOLTS Job Openings data.
Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

Most Visited Forex Broker Reviews