AUD/USD Falls to Five-Month Low - Forex News by FX Leaders

AUD/USD Falls to Five-Month Low

Posted Thursday, May 16, 2019 by
Arslan Butt • 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

About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments