News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bearish
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • #Silver retracing its losses earlier in the session as price carves out a Bear Flag pattern With resistance at $25 holding firm, further losses appear in the offing A daily close below the 21-DMA (24.20) may open the door for a retest of 61.8% Fib support (21.74) $SLVR $SLV https://t.co/rCl3Ms3FB3
  • The Nasdaq 100 index looks set to pull back amid bearish momentum in the near term. The 50-Day Simple Moving Average (SMA) line may serve as an immediate support. Get your #equities update from @margaretyjy here: https://t.co/5Axsg6gAdd https://t.co/rToHnPLSeS
  • $GBPUSD the outlier early in the session, up marginally as UK-EU Brexit negotiators extend talks until October 28 https://t.co/ey92YW4RJw
  • #CrudeOil down 1.95% on the back of tightening #COVID19 restrictions in several European nations $EURUSD nudging marginally lower https://t.co/PUWTfKl08f https://t.co/XuyQOzV6sj
  • Market Snapshot Broad risk-off tilt to kick-off APAC trade #Gold and #CrudeOil prices plunging lower alongside the risk-sensitive $AUDUSD Haven-linked $JPY and $USD moving higher against their major counterparts
  • Wall Street Futures Update: Dow Jones (-0.504%) S&P 500 (-0.536%) Nasdaq 100 (-0.484%) [delayed] -BBG
  • Entry orders are a valuable tool in forex trading. Traders can strategize to come up with a great trading plan, but if they can’t execute that plan effectively, all their hard work might as well be thrown out. Learn how to place entry orders here: https://t.co/lAFyv1gM0P https://t.co/zSCf8azESa
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! https://t.co/lxd5fZnn4H
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/ZJOEtpGUIq https://t.co/tJWOXZCoBw
  • The US Dollar may seesaw as investors navigate what could be a volatile week packed with US GDP data, rising Covid-19 cases, Q3 corporate earnings and more. Get your #currencies update from @ZabelinDimitri here: https://t.co/UNRcd3c9uA https://t.co/BiUiOV4cXC
Aussie Dollar Gains on Neutral RBA, Pound May Rise on Soft PMI

Aussie Dollar Gains on Neutral RBA, Pound May Rise on Soft PMI

2017-05-02 05:32:00
Ilya Spivak, Head Strategist, APAC
Share:

Talking Points:

  • Aussie Dollar rose after broadly neutral RBA policy announcement
  • Gains might reflect short-term dovish tone bets and may soon fizzle
  • Pound could rise if soft PMI is seen helping to soften Brexit rhetoric

The Australian Dollar rose after the RBA kept its official cash rate unchanged at a record-low 1.50 percent, as widely expected. The statement accompanying the announcement was firmly neutral, reinforcing the likelihood that the central bank will remain on hold for some time yet. With that in mind, the currency’s slight uptick may reflect near-term bets on a more dovish tone. Significant follow-through seems unlikely.

UK Manufacturing PMI data headlines a relatively muted European data docket. Expectations point to a slight slowing in the pace of factory-sector activity in April compared with the prior month. UK economic news-flow has increasingly underperformed relative to consensus forecasts since mid-February, hinting that analysts’ models are perhaps overly optimistic and opening the door for a downside surprise.

The implications of a soft outcome for the British Pound may be somewhat counter-intuitive. As noted previously, the markets are all but certain that the BOE is on hold for the foreseeable future. Indeed, a rate hike is not priced in through 2018. With that in mind, signs of slowdown may prove supportive for Sterling if they help soften the tone of Brexit rhetoricahead of a general election in June.

What is most important in shaping GBP trends through mid-year? See our forecast to find out!

Asia Session

Aussie Dollar Gains on Neutral RBA, Pound May Rise on Soft PMI

European Session

Aussie Dollar Gains on Neutral RBA, Pound May Rise on Soft PMI

** All times listed in GMT. See the full DailyFX economic calendar here.

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES