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
Subscribe
Please try again
EUR/USD
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
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/ZjrCYXTIdD
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/dPE4AsJxqv
  • What are some trading takeaways from 2020, as we jump into the new year? Find out with your free guide here: https://t.co/e7udCTJlmf #DailyfxGuides https://t.co/9bsQkh2WMF
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here: https://t.co/lZFM8youtX https://t.co/DJccj3qiig
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/UK4E7wD6s8
  • Copper is on track to make a sixth consecutive monthly gain as prices inch towards its all-time high. The global backdrop remains supportive despite a short-term pause in the rally. Get your market update from @FxWestwater here:https://t.co/STEYeIG042 https://t.co/R794ENkS3c
  • Retail trader signals still hint that the Dow Jones and S&P 500 may be at risk, placing the focus on year-long rising trendlines to see if dominant upside biases hold.Get your market update from @ddubrovskyFX here:https://t.co/lFpzIFNmzW https://t.co/FoHTLDJWJe
  • The path for the Japanese Yen seems to favor the downside looking at a majors-based index. USD/JPY may rise within its Ascending Channel, but there is some scope for a healthy correction. Get your market update from @ddubrovskyFX here:https://t.co/7XFJiCYYEM https://t.co/KfLyB2t1jP
  • The British Pound’s recent slip lower against its major counterparts may prove short-lived. Key levels to watch for GBP/USD, GBP/JPY, GBP/CHF and EUR/GBP. Get your $GBP market update from @DanielGMoss here:https://t.co/Y48cF2qi9M https://t.co/ia3Bgq0ZTp
  • Senate Democrats reach deal on jobless aid -BBG
Preview: Australian Dollar Declines Before RBA Decision

Preview: Australian Dollar Declines Before RBA Decision

Christopher Almeida,

THE TAKEAWAY: The Australian Dollar eyes the RBA statement as mixed signals are sent by improved domestic and Chinese data with a concerning global macro-economic backdrop.

Preview_Australian_Dollar_Declines_Before_RBA_Decision_body_rbafeb52013.png, Preview: Australian Dollar Declines Before RBA Decision

Created Using Marketscope 2.0

At the first Reserve Bank of Australia meeting for 2013, the RBA decided to hold interest rates at 3.00 per cent, the interest rate since December of 2012. The decision to hold rates came after some relatively soft Australian retail data for the month of January, as well as some data out of China to suggest that growth was stabilizing. The RBA’s statement saw an outlook that was somewhat dovish as policy makers afforded scope to ease policy further despite the easing that took place throughout 2012. This outlook saw the so called ‘Aussie’ decline as investors started to price in a potential rate cut at the March 5th meeting. Overnight swap indexes at one point had priced in a 57% chance of a 25 basis point rate cut after the February meeting, but chances are now seen at a mere 17%.

Traders have dumped their holdings in the risk-based currency over February and into early March as concerns resurfaced over the state of the Euro-zone as a result of the political instability in Italy, as well as growth worries in the United States stemming from the sequester. The Assistant Governor Guy Debelle’s speech on the 25th of February saw further declines in the Aussie as Debelle signaled that the RBA could cut rates to weaken the Dollar. It remains to be seen whether a rate cut is really on the cards or whether it was an attempt by Debelle to talk the currency downwards. With the Australian dollar testing levels today not seen since July 2012, and February seeing more robust data from China, Australia’s major trading partner as well as improved domestic figures, investor will eye the RBA’s outlook to decide whether the Dollar continues to head towards parity, or whether a rally is in order.

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

DISCLOSURES