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
Bullish
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
Bullish
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
Bullish
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • 🇯🇵 Foreign Bond Investment (10/APR) Actual: ¥1714.4B Previous: ¥375.1B https://www.dailyfx.com/economic-calendar#2021-04-14
  • Heads Up:🇯🇵 Foreign Bond Investment (10/APR) due at 23:50 GMT (15min) Previous: ¥377B https://www.dailyfx.com/economic-calendar#2021-04-14
  • 5 out of 11 S&P 500 sectors ended higher, with 51.1% of the index’s constituents closing in the green. Energy (+2.91%), financials (+0.66%) and materials (+0.64%) were among the best performers, while consumer discretionary (-1.17%) and information technology (-1.15%) trailed. https://t.co/FMscTetRLb
  • The Euro has regained lost ground against its major counterparts recently. Are further gains in the offing or is this just a short-term countertrend correction? EUR/USD, EUR/JPY, EUR/GBP, EUR/NZD key levels. Get your market update from @DanielGMoss here:https://t.co/BK1ezTva9R https://t.co/FpTQ6vUjys
  • The US Dollar may extend gains against the Thai Baht. But, its price action within USD/SGD, USD/PHP and USD/IDR seem to be favoring more range-bound trading conditions. Get your market update from @ddubrovskyFX here:https://t.co/DYCLXAFcCr https://t.co/HSQSmci2Fb
  • The Turkish central bank is on tap tomorrow. You may recall that President Erdogan removed Governor Naci Agbal about a month ago. The benchmark rate is at 19% heading in... https://t.co/GFyKzB3DfF
  • Heads Up:🇺🇸 Fed Kaplan Speech due at 22:05 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-14
  • US CDC meeting on Johnson & Johnson shot finishes without a vote, more data needed - BBG
  • NZD/USD attempts to negate a head-and-shoulders formation after defending the March low (0.6943). Get your $NZDUSD market update from @DavidJSong here:https://t.co/QLYcoTUdCG https://t.co/y5wpl479Av
  • #Bitcoin retreats from all-time highs, down 1.5% on the day #BTC $BTCUSD https://t.co/XUZZmTrhgs
Aussie Shows Little Upside Despite RBA Rate Hold

Aussie Shows Little Upside Despite RBA Rate Hold

Benjamin Spier, Technical Strategist

THE TAKEAWAY: RBA keeps the target rate at 2.75% in June meeting -> RBA says inflation may provide scope for easing -> Aussie trading slightly higher

The Reserve Bank of Australia left the target interest rate at 2.75% in June, as was expected by a majority of Bloomberg surveyed analysts. The rate hold comes only a month after the RBA cut the target rate to a record low level. The RBA has cut the interest rate by 2.00 percentage points since November 2011.

The RBA said that monetary policy is appropriate for the time being, but inflation may provide scope for easing. The 2.5% inflation reported for Q1 was in line with the RBA’s 2% to 3% target rate. Following last month’s rate cut, the RBA said it had only used some of the scope of a rate cut, and the central bank said it cut rates to boost businesses weakened by the currency’s strength.

The RBA said that growth over the past year has been a bit below trend, as GDP expanded by 0.6% in Q4 of 2012. The GDP for Q1 will be released tomorrow, and the RBA recently cut its growth forecast to 2.5% for 2013. Relating to the Australian Dollar, the RBA said in this month’s meeting that the exchange rate remains high given the export price decline.

However, the Australian Dollar showed little reaction to the rate hold, as it met expectations. The Aussie continues to trade slightly above 97.00 against the US Dollar, and the pair may next see resistance at 0.9777, by the 23.6% retracement of the decline from April’s high to May’s low. Support may be provided by the 20 month low recently set at 0.9528.

(How does a Currency War affect your FX trading? Take our free course to find out!)

AUDUSDDaily: June 4, 2013

Aussie_Shows_Little_Upside_Despite_RBA_Rate_Hold_body_audusd.png, Aussie Shows Little Upside Despite RBA Rate Hold

Chart created by Benjamin Spier using Marketscope 2.0

-- Written by Benjamin Spier, DailyFX Research. Feedback can be sent to instructor@dailyfx.com .

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

DISCLOSURES