Forex market currency pair will be climbe up dollar goes down:
The Australian dollar climbed higher against its U.S. counterpart on Monday as the Kiwi slid. investors are still digesting the downbeat U.S. economic data released on Friday.
The Aussie was up 0.17 against the greenback, trading at 0.7658. The New Zealand dollar slid 0.36% to 0.7175, climbing off a four-day low of 0.7166 overnight.
The U.S. dollar was broadly weaker after the release of disappointing economic data from the U.S. commerce Department,which showed that retail sales were flat in July.
Core retail sales were also down in July, falling 0.3% Producer prices were down by 0.4% in the July, missing expectations for a 0.1% increase.Producer price have fallen by 0.2% year-on- year.
The Australian and New Zealand dollars climbed higher against their U.S. counterpart on Thursday, as the greenback remained under broad selling pressure amid concerns over U.S. President Donald Trump's protectionist policies.
AUD/USD advanced 0.58% to 0.8107, the highest since September.
The greenback weakened broadly after White House officials on Tuesday said that President Trump was planning on using his speech at the World Economic Forum in Davos on Friday to underline his "America First" policies.
such policies included a potential withdrawal from the North American free-trade agreement and disavowing the global climate change accord.
The disappointing data has sparked concerns over the strenght of the U.S. economy and dampened expectations of a rate hike from the Federal Reserve in the near future.
The Aussie advanced against the pound, with GBP/AUD trading at 1.68097 sentiment on the Australian dollar was boosted by a weaker U.S. dollar and a rally in iron ore prices.
The pound was weighed down by dovish remarks from Andy Haldane, Bank of England policymaker, who was doubtful that looser monetary policy would be effective in the wake of the Brexit vote.
the U.S. dollar was also hit after, in Davos on Tuesday, Treasury Secretary Steven Mnuchin said on Wednesday that the weaker dollar was positive for American trade.
NZD/USD climbed 0.55% to trade at 0.7377, just off the previous session's five month peak of 0.7438.
Earlier Thursday statistics New Zealand reported that the consumer price index ticked up 0.1% in the fourth quarter, disappointing expectations for an increase of 0.4%
year-over-year, consumer prices gained 1.6% in the three months to December
compared to expectations for a 1.9% rise.
Unusually high demand levels for iron ore in china has boosted the Aussie.
Demand levels rose to the second-highest level in history.
The currency was also supported by news that the Westpac consumer confidence gauge climbed from -3% to 2%.
Last week's gains for the Australian dollar were undermined at the end of the week's on signs that Chines sales, investment and industrial production were falling.
Renewed fears of an economic slowdown weighed on the Aussie.
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