{"id":45712,"date":"2013-12-23T07:38:03","date_gmt":"2013-12-23T12:38:03","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=45712"},"modified":"2013-12-23T07:38:03","modified_gmt":"2013-12-23T12:38:03","slug":"australian-dollar-retreats-from-lows-amid-fed-tapering","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/12\/23\/australian-dollar-retreats-from-lows-amid-fed-tapering\/","title":{"rendered":"Australian Dollar Retreats From Lows amid Fed-Tapering"},"content":{"rendered":"

By HY Markets Forex Blog<\/a><\/u><\/strong> <\/p>\n

The Australian dollar \u00a0bounced back from its three-year low against the green back on Monday just before the Christmas-holiday trade.<\/p>\n

The aussie traded 0.28% higher against the US dollar at %0.8942 at the time of writing, and traded flat against the 17-bloc euro currency at a$1.5302 at the same time on Monday.<\/p>\n

The Australian currency dropped to its lowest level since 2010 last week, following the Fed\u2019s decision to decrease its $85 billion monthly asset purchases by $10 billion starting from January.<\/span><\/p>\n

“The FOMC tapered the pace of asset purchases by $10 billion per month, but strengthened its forward guidance about the conditions for future rate hikes.\u00a0We now expect the FOMC to taper by $10 billion per month through September 2014, with a final $15 billion reduction at the October 2014 meeting,” analysts from Barclays Capital predicted.<\/p>\n

 <\/p>\n

Australian Dollar – US Data<\/span><\/h2>\n

Analysts were surprised by the final revision of the US GDP, showing an advance of 4.1% at an annual pace, surpassing analysts\u2019 prediction of a 3.6% rise. The second-quarter data remained unrevised at 2.5%, reports from the Department of Commerce confirmed on December 20.<\/p>\n

Australian Dollar – Fed-Tapering<\/span><\/h2>\n

As the health of the world\u2019s largest economy is getting stronger, members of the Federal Reserve decided to begin to reduce the central bank\u2019s asset-purchases at their final meeting on December 18.<\/p>\n

The US Central bank announced it would reduce its $85 billion monthly asset purchases to $75 billion starting January next year.<\/p>\n

Boston\u2019s Federal Reserve\u2019s President Eric Rosengren voted against the Fed\u2019s decision to reduce its bond purchases. Rosengren suggested the decision to taper should have been delayed until March 2014.<\/p>\n

“The U.S. economy remains far from the 5.25 percent unemployment rate that I believe is consistent with full employment, and total PCE inflation, at only 0.7 percent, is well below the Federal Reserve’s inflation target of 2 percent,” Rosengren said.<\/p>\n

 <\/p>\n

 <\/p>\n

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The post Australian Dollar Retreats From Lows amid Fed-Tapering<\/a> appeared first on | HY Markets Official blog<\/a>.<\/p>\n

Article provided by HY Markets Forex Blog<\/a><\/u><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

By HY Markets Forex Blog The Australian dollar \u00a0bounced back from its three-year low against the green back on Monday just before the Christmas-holiday trade. The aussie traded 0.28% higher against the US dollar at %0.8942 at the time of writing, and traded flat against the 17-bloc euro currency at a$1.5302 at the same time … <\/p>\n

Continue reading “Australian Dollar Retreats From Lows amid Fed-Tapering”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-45712","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/45712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=45712"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/45712\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=45712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=45712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=45712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}