AUD hits ten-year lows

AUD hits ten-year lows on Apple-driven flash crash

 

The Australian dollar – and many other key markets – have fallen sharply this morning after as profit warning from Apple hit confidence and pressured US sharemarket futures.

Importantly, the Apple warning was focused on China, with the technology giant saying it would miss December quarter sales forecasts due to a large drop in Chinese demand.

The US Dow Jones futures contracts fell more than 300 points on the news.

The Australian dollar – closely tied to Chinese sentiment – also fell sharply.

The AUDUSD fell as much as 3.0% – hitting the lowest levels since 2009 – with other AUD markets also sharply lower. The AUD later recovered some of its gains. 

 

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