Excerpt from: Spot Forex
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| July 01, 2010 | | Spread bets and CFDs on the Aussie in forex trading | The Aussie has been hit hard in forex trading by the latest data coming out of Asia, especially China. The Aussie relies on its trade with Asia to maintain a great deal of strength. As a result, it is affected by the slowdown in the Chinese economy.
GFT's Boris Schlossberg reports on how China, and Australia's own economy, are influencing the Aussie in forex trading:
Given the sharp fall off in Australian housing demand and the lackluster
consumer spending data, it now becomes increasingly doubtful that the
RBA will ratchet rates higher in the foreseeable future unless growth
shows fresh signs of pick up. The Aussie fell more than 100 points in
Asian session as traders absorbed the news and adjusted their interest
rate expectations.
With risk appetite fading as well, and equities lower around the world, it is little surprise that the Aussie is having some trouble right now.
| Topic Tags: Aussie forex trading, CFDs, China, equities, forex trading, spread bets, spread betting | |
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