AUD News 

Major currencies are settling into a pre-NFP lull

“Markets will now look towards the US non-farm payrolls report for further clues on direction” reports forexlive.com. Meanwhile, the pound is doing pound things with the quid gaining some ground as Brexit developments continue to wait in the wings.Oil is up by ~2% currently and that’s helping to keep the loonie underpinned ahead of the Canadian jobs report which will be released at the same time as the US non-farm payrolls report later.The aussie is holding up well as risk sentiment remains positive on the day.E-minis are up by 1.2%…

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AUD Markets News 

‘Flash crash’ rips through Asia’s currency markets sending the yen into orbit and the Aussie dollar crashing to Earth

“If so, we’d expect Aussie dollar to be trading back reasonably comfortably above 0.70 before Q1 is out.”” writes Vatsal Srivastava for businessinsider.com. Against the yen, the Aussie dollar fell 2.2 percent to 74.37.Weaker-than-expected data out of China, Australia’s largest trade partner has taken the shine off the Aussie dollar in recent weeks.The euro was marginally higher at $1.1340 in Asian trade.In early Asian trade, the dollar tumbled to an intra-day low of 104.96 yen, its lowest since March 2018 before recovering some of its losses as trading progressed. Source: businessinsider.com

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AUD News 

Yen soars, Aussie tumbles as fresh growth worries trigger foreign exchange ‘flash crash’

“Against the yen, the Aussie dollar fell 1.8 percent to 74.67” writes unknown author for cnbc.com. In early Asian trade, the dollar tumbled to an intra-day low of 104.96 yen, its lowest since March 2018.Weaker-than-expected data out of China, Australia’s largest trade partner has taken the shine off the Aussie dollar in recent weeks.The Aussie dollar last traded at $0.6931, down 0.74 percent.The spike in risk aversion triggered massive stop-loss flows from investors who had held short positions on the yen for months. Source: cnbc.com

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AUD Markets News 

Aussie leads as equity gains lift sentiment ahead of European markets open

“There isn’t much other notable movement in the currencies space with changes between major currencies being ~0.1%” reports forexlive.com. US equity futures are also trading higher so that’s helping to keep up with the good mood as well.That helped to give a push higher in the aussie and yen pairs to start the day and not much has changed since.The dollar is mixed but with markets facing a time of lighter volumes it’s hard to read anything into the moves this early on. Source: forexlive.com

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AUD News 

Temenos Preps For Aussie Open Banking With Avoka Takeover

“Avoka analysts warned that this can place added time pressures on small business owners, with only 24 percent of small business banking products able to be opened online” reports pymnts.com. Earlier this year, Temenos partnered with Greece’s first challenger bank, Praxia Bank, which will focus on small business and consumer lending.Avoka will enable Temenos to add “customer portability” to its offering for banks as it provide support to migrate to the open banking regime, reports said.Temenos has targeted Australia as it prepares to introduce its own open banking initiative next year,…

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AUD News 

Credit Suisse Backs Aussie Challenger Bank Judo With $250M

“Australia-based challenger bank Judo Capital has raised more than $250 million from Credit Suisse Australia, according to reports” reports pymnts.com. Business Insider Australia said Monday (November 26) that Credit Suisse has provided the credit facility worth AUS$350 million to fuel Judo’s small business lending operations. Earlier this month the government announced an initiative to purchase up to $1.44 billion in small business loans from non-bank lenders to heighten SMB loan availability. Source: pymnts.com

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AUD News 

Here’s a key reason that’s driving aussie, kiwi gains today

“Aussie shorts are at its most stretched since 2015 while kiwi shorts are at their most stretched over the last ten years” reports forexlive.com. There’s a couple of reasons to justify why the aussie and kiwi are deserving of a move higher today.That’s telling in the sense that it’s not just data that’s driving sentiment here but also that buyers are looking for a reason to hop back in/sellers looking to trim shorts.Then comes trade balance data today and that’s enough to send the pair popping up back above 0.7100…

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AUD Crypto News 

Aussie Dollar Stablecoin Announced in Las Vegas

“The ranks of stablecoins continues to grow, this time courtesy of the Stellar blockchain, according to CoinDesk” reports financemagnates.com. The Novatti Group, an Australian payment technology company, will release the coin on the Stellar blockchain on the 19th of November.As with other fiat-pegged tokens, the idea is that every token on the market will be backed by a single Australian dollar, held in trust by the company.This will be the first stablecoin launched on Stellar, which is an open-source blockchain network created by Jed McCaleb, who also created Mt Gox…

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AUD Brokers News 

Next Headache for Aussie Brokers? Consumer Watchdog Looks into FX Services

“The findings revealed widespread misconduct and the deliberate deception of Australian consumers” reports financemagnates.com. According to the World Bank, Australia is the third most expensive G20 country for consumers and small businesses to send money from.The Australian Competition and Consumer Commission (ACCC) announced on Tuesday that it is looking into price competition among institutions that provide currency conversion services, including the main four banks in the country.This is specifically in relation to the markup that financial institutions charge consumers when converting currencies. Source: financemagnates.com

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AUD Markets News 

Not much has changed for the Australian dollar in the new week

“So, if the labour market itself starts to show signs of softness, expect aussie bears to pounce on that” reports forexlive.com. Despite the fact that AUD/USD continues to hold just above the 0.7100 handle, things aren’t really getting any better for the aussie.The key risk event in the day ahead for the aussie will be the labour market report tomorrow.As risk improved at the start of the week, AUD/USD failed to muster any decent rally as highs touched around 0.7130 before falling back again. Source: forexlive.com

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