The Australian dollar finally surrendered to pressure and fell below 80 cents to the US dollar. After giving a fight and enjoying strong employment data at home as well as the upbeat Chinese GDP, it could not withstand the latest wave of greenback strength that came on the back of the big easing decision from the ECB. AUD/USD went as low as 0.7963 before bouncing but so far without regaining the 0.80 level. The ECB announced a huge QE program potentially worth over 1 trillion euros. Mario Draghi exceeded expectations. What does the euro-zone have to do with Australia? There is a growing sense that other central banks will follow. But it is not only the European Central : the Bank of Canada surprised and cut interest rates from 1% to 0.75% and the RBA could follow: the interest rate in Australia stands at 2.50%. Glenn Stevens and his colleagues at the Australian central bank meet on February 4th and a rate cut certainly a possibility. In addition to the central bank race to the bottom, we had a fresh read from HSBC regarding the state of Chinese manufacturing: the economic giant which is Australia’s No. 1 trade partner is not able to post growth figures in the purchasing managers’ indicator: a score of 49.8 was seen in the preliminary release for January, below the 50 point mark separating growth and contraction. For more, see the AUDUSD prediction. AUD/USD is at the lowest since 2009. And this is how it looks on the chart: Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam AUD/USD Daily Outlooks share Read Next EUR/USD En-Route To 0.96 in 2015 after ECB Delivers – TD Yohay Elam 7 years The Australian dollar finally surrendered to pressure and fell below 80 cents to the US dollar. After giving a fight and enjoying strong employment data at home as well as the upbeat Chinese GDP, it could not withstand the latest wave of greenback strength that came on the back of the big easing decision from the ECB. AUD/USD went as low as 0.7963 before bouncing but so far without regaining the 0.80 level. The ECB announced a huge QE program potentially worth over 1 trillion euros. Mario Draghi exceeded expectations. What does the euro-zone have to do with Australia? There… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
