Dec 22, 2020 14:32 GMTFXStreet News
AUD/USD is posting losses for the third straight day.
Upbeat data from Australia failed to help AUD find demand.
US Dollar Index clings to small gains above 90.00 ahead of US data.
The AUD/USD pair closed the first day of the week modestly lower and stretched lower on Tuesday. Although the pair was able to pull away from the daily low it set at 0.7530, it remains in the negative territory. As of writing, AUD/USD was down 0.35% at 0.7558.
USD struggles to preserve its strength
Earlier in the day, the data published by the Australian Bureau of Statistics showed that Retail Sales in November increased by 7% on a monthly basis. This reading came in much higher than October’s growth of 1.4% but failed to provide a boost to the AUD.
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Asia-Pacific Shares Plunge as New Coronavirus Strain in UK Threatens Global RecoveryAustralian shares fell on Tuesday as a fast-spreading new coronavirus strain in Britain threatened to disrupt a nascent global economic recovery.
Dec 22, 2020 07:59 AM GMT
The major Asia Pacific stock indexes tumbled on Tuesday, extending a sell-off from multi-year highs hit last week on fears a highly infectious new strain of COVID-19 that hit the U.K. could lead to a slower global economic recovery. Investor sentiment continued to sour even as the U.S. Congress on Monday approved a long-awaited $892 billion coronavirus aid package.
In the cash market on Tuesday, Japan’s Nikkei 225 Index settled at 26439, down 278.03 or -1.04%. Hong Kong’s Hang Seng Index finished at 26090.59, down 216.09 or -0.82% and South Korea’s KOSPI Index closed at 2733.68, down 44.97 or -1.62%.
Australians spent extra $2b on alcohol in 2020, even with pubs shut news.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from news.com.au Daily Mail and Mail on Sunday newspapers.
Credit card debt fell and the savings rate rose this year, but financial counsellors issue warning on buy-now, pay-later plans
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MonMonday 21
Financial counsellors say the pressures of Christmas can lead people to spend beyond their means.
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People should be careful to avoid a Christmas debt hangover, financial counsellors have warned, despite Australians reducing their credit card bills amid the uncertainty of 2020.
Key points:
Buy-now, pay-later services continue to increase in popularity
Financial counsellors typically see an increase in calls for help after Christmas
Canberra financial counsellor Deb Shroot could be on the other end of the phone if you call the National Debt Helpline.
Queensland second-last for infrastructure spending: Report
Politics by Thomas Morgan
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Subscriber only Queensland s hamstrung budget has resulted in the state ranking second-last for infrastructure spending, according to a new report released overnight. It comes after Queensland last week was also revealed to be the second worst state for unemployment, with the Australian Bureau of Statistics projecting our joblessness rate was sitting at 7.7 per cent. The 2020 Australian Infrastructure Budget Monitor ranked only Western Australia worse than the Sunshine State in terms of infrastructure spending as a proportion of total government spending due to a constrained balance sheet . A spokesman for Treasurer Cameron Dick said Queensland would be only one of two states whose economy has grown in 2020. Picture: Josh Woning