AUD/USD Falls to Five-Month Low
AUD/USD dips to a five-month low over weaker than expected employment figures
Arslan Butt•Thursday, May 16, 2019•1 min read
[[AUD/USD]] dips to a five-month low over weaker than expected employment figures, increasing the likelihood of RBA cutting interest rates. Investors have started pricing in a rate cut by the central bank in July, while the reigning trade war sentiments in the market too have contributed to weakening the Aussie.
The Australian unemployment rate touched 5.2%, the highest in eight months. Elections also loom in Australia, adding to the volatility and giving the Australian dollar a tough time. Economists expect the RBA to cut rates by 0.25% and bring down the interest rate to 1.25% latest by August.
At the time of writing, AUD/USD is trading at 0.692.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
ABOUT THE AUTHOR
See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
Subscribe
Login
Please login to comment
0 Comments
Oldest
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals