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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Oil - US Crude
Wall Street
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
More View more
Real Time News
  • US Equity Update (Wednesday Close): $DJI +1.20% $SPX +0.82% $NDX +0.84% $RUT +0.20% $VIX -0.42%
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.15% US 500: -0.19% FTSE 100: -0.22% Germany 30: -0.37% France 40: -0.46% View the performance of all markets via
  • Following last night's debate, the Commission on Presidential Debates (CPD) announced today that they: "will be carefully considering the changes that it will adopt and will announce those measures shortly". #PresidentialDebate2020
  • USD strength has shown in September but that’s been a change-of-pace to the bigger-picture trend of weakness. Which will take over in Q4? Get your $USD market update from @JStanleyFX here:
  • Pelosi says stimulus talks with Mnuchin will continue - BBG
  • Update on #Cryptocurrencies #BITCOIN -0.55% #BITCOINCASH -0.35% #ETHEREUM -0.68% #RIPPLE -0.46% #LITECOIN +1.08%
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.28% Gold: -0.31% Silver: -3.01% View the performance of all markets via
  • US Dollar: Ready to Rumble with High-Impact Data - EURUSD, AUDUSD
  • Senator McConnell signals that a deal is still far off on stimulus $SPX $DJI $DXY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.18%, while traders in Wall Street are at opposite extremes with 69.58%. See the summary chart below and full details and charts on DailyFX:
RBA Played it Safe, Australian Dollar little Changed

RBA Played it Safe, Australian Dollar little Changed

2012-08-07 06:10:00
Gary Kerdus,

THE TAKEWAY: RBA kept rates unchanged at 3.50% > Economic growth appears to be moderating at a sustainable pace > Australian Dollar little changed

The Australian Dollar was little changed as the Reserve Bank of Australia kept the benchmark lending rate unchanged at 3.50%. According to RBA Governor Glenn Stevens, global growth is expected to push forward at a “no more than average pace” for the remainder of the year. Moreover, the release suggested that China, which is Australia’s largest trading partner, should continue to experience growth which has “moderated to a more sustainable pace.”

Stevens further asserted that it’s likely that Europe continues to pose the greatest risk to financial shocks, however markets have responded well to recent developments. Europe is a large trading partner with China and if the Eurozone slowdown accelerates, then the spillover effect may result in a stagnant Chinese manufacturing sector which invariably could cause a drop in Australian exports.

The RBA last reduced their rate in May of this year. The effects of an interest rate cut should generally take a few months to produce a result, so it’s not much of a surprise that the rate remained unchanged. If the RBA cuts too aggressively, then prices may accelerate to uncomfortable levels, thus exerting pressure on officials to tighten by increasing the cost of capital. The Aussie currency is already an attractive pair to hold since it yields a high rate of return and the prospect of a higher, and thus more attractive, yield could cause an influx of foreign capital into the Australian system potentially driving the exchange rate higher. Furthermore, a higher exchange rate is likely to weigh on exports since goods become relatively more expensive when settling transactions.

So for now, it’s of little surprise that the RBA played it safe and will most likely wait for further economic developments to play out. Markets likely interpreted the decision to mean that little has changed and will probably also wait for the cues which could translate into attractive trading conditions.

AUDUSD, 5 Minute Chart

RBA_Played_it_Safe_Australian_Dollar_little_Changed_body_Picture_1.png, RBA Played it Safe, Australian Dollar little Changed

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