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
Bullish
Oil - US Crude
Bearish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Mixed
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
USD/JPY
Mixed
More View more
Real Time News
  • WTI crude oil prices (WTI) lost 4.7% so far this week. Demand concerns and a rising US Dollar sent crude oil prices lower on Thursday. Cloudy economic recovery prospects weighed on sentiment, despite falling US crude inventories. https://t.co/nVHCe4DX3g
  • Based on recent price action in the US Dollar, might... $USDSGD $USDMYR $USDPHP $USDIDR ...be heading higher next? Check out my latest #ASEAN technical update here - https://www.dailyfx.com/forex/technical/article/special_report/2020/09/24/US-Dollar-Comeback-Ahead-USDSGD-USDMYR-USDPHP-USDIDR.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/9sIQFVeydt
  • Wall Street Futures Update: Dow Jones (-0.393%) S&P 500 (-0.418%) Nasdaq 100 (-0.653%) [delayed] -BBG
  • An economic calendar is a resource that allows traders to learn about important economic information scheduled to be released. Stay up to date on the most important global economic data here: https://t.co/JdvW6HNuqV https://t.co/FXpr6RibWT
  • Markets attempted pull risk trends out of their dive this past session, but sentiment (via $SPX) ultimately returned to its bearish course. Meanwhile, $EURUSD is consistent with its reversal. My video for today: https://www.dailyfx.com/forex/video/daily_news_report/2020/09/24/EURUSD-Extends-its-Dive-as-Late-Day-Selloff-Puts-SP-500-On-Verge-of-Correction.html?ref-author=Kicklighter&QPID=917719&CHID=9 https://t.co/Q6JZKW2B1y
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.57%, while traders in EUR/GBP are at opposite extremes with 64.76%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/JHNAiIgVLv
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.11% 🇪🇺EUR: -0.02% 🇯🇵JPY: -0.06% 🇨🇦CAD: -0.08% 🇳🇿NZD: -0.22% 🇦🇺AUD: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/im3IxxDQ3y
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.15% US 500: 0.12% FTSE 100: -0.94% Germany 30: -1.00% France 40: -1.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/X6mMfIY6HW
  • The US Dollar, British Pound, and Euro will all be closely watching key geopolitical developments in North America (Powell testimony), the UK (Brexit talks) and Europe (EU summit). Get your market update from @ZabelinDimitri here:https://t.co/q4AJW6PTCu https://t.co/e0rwBFOnqX
  • RT @stlouisfed: The current recession has in many ways been more extreme than the Great Depression, yet the economy is projected to recover…
Aussie Declines on RBA Talk of Further Easing and a Lower Exchange Rate

Aussie Declines on RBA Talk of Further Easing and a Lower Exchange Rate

2013-07-02 05:17:00
Benjamin Spier, Technical Strategist
Share:

THE TAKEAWAY: RBA keeps the interest rate unchanged at 2.75% for the second month -> RBA mentions scope for further easing and a weaker AUD/USD level -> Aussie declines on RBA comments

The Reserve Bank of Australia kept its target interest rate unchanged at 2.75% for the second straight month following its July meeting, as was expected by a majority of Bloomberg surveyed analysts. The interest rate was cut 25 basis points to the record low 2.75% in May, and the target rate has been cut 2 percentage points since November 2011.

In comments released following the target rate announcement, the RBA said the annual inflation outlook may provide some scope for further easing, as inflation will remain consistent with the central bank’s target over the next 1-2 years. The RBA forecasted in June 3.0% inflation for 2013, at the high end of its 2-3% target inflation rate.

Even after the recent Aussie selloff, the RBA said it’s possible the Australian Dollar exchange rate may depreciate further, and a weaker AUD will help rebalance growth. The RBA also called the 0.6% growth in Q1 a bit below trend.

The Australian Dollar declined about seventy points against the US Dollar following the release of the RBA comments, as the talk of scope for further easing and a weaker Australian Dollar were perceived as dovish by the Forex markets. AUD/USD is now trading below 92.00, and may see support at .9107, by the 2.5 year low set yesterday.

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

AUDUSDDaily: July 2, 2013

Aussie_Declines_on_RBA_Talk_of_Further_Easing_and_a_Lower_Exchange_Rate_body_audusd.png, Aussie Declines on RBA Talk of Further Easing and a Lower Exchange Rate

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