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.

Free Trading Guides
EUR/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
Oil - US Crude
Mixed
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Forex Update: As of 12:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.78% 🇳🇿NZD: 0.45% 🇬🇧GBP: 0.42% 🇪🇺EUR: 0.35% 🇨🇭CHF: -0.04% 🇯🇵JPY: -0.51% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/DvaBAG6n53
  • UK PM Johnson says the UK are not compromising with the EU on fisheries and level playing field as position on those are fundamental $GBP
  • López Obrador hopes #USMCA will help tighten trade relationships between the US and Mexico. Get your currencies market update from @HathornSabin here: https://t.co/bZrUKSCGaS https://t.co/UWFdv7wCP0
  • Pronóstico $XAUUSD: el #oro consolida un canal ascendente hacia 1.750$ #gold #trading https://t.co/Tu8g57ZORD
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.89%, while traders in US 500 are at opposite extremes with 75.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/jJf4VBBPOr
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.72% Gold: -0.03% Silver: -0.15% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/HD3d67xvtz
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.93% 🇬🇧GBP: 0.57% 🇨🇦CAD: 0.45% 🇪🇺EUR: 0.34% 🇨🇭CHF: -0.10% 🇯🇵JPY: -0.17% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/1d82miYwh3
  • Coming up at half past the hour: my weekly webinar on market #sentiment. Please join me if you can. You can sign up here: https://www.dailyfx.com/webinars/181540619?ref-author=essex&CHID=9&QPID=917711
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 1.74% Germany 30: 1.12% FTSE 100: 0.88% Wall Street: 0.77% US 500: 0.69% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/1IbO8jbvOv
  • Russia and other nations are said to prefer a 1-month OPEC+ production cut extension #OOTT
AUD/USD Higher As Market Eyes RBA Interest Rate Decision

AUD/USD Higher As Market Eyes RBA Interest Rate Decision

2013-08-06 02:30:00
Jimmy Yang,
Share:

THE TAKEAWAY:Australia trade balance and house prices improve > Positive data unlikely to have affected RBA rate cut expectations > Market to weigh RBA rhetoric > AUD/USD Higher

New to Forex? Watch this video.

The Aussie remained relatively flat against the US Dollar as a slew of Australian economic data came across the wires. Trade balance in June missed estimates with a 602 million reading but was an improvement over May’s revised 507 million. This also represents the most favorable trade data since December 2011. Improvements in housing prices complemented the release with quarter-over-quarter and year-over-year price changes that beat expectations with a 2.4 and 5.1 percent increase respectively. However, the market seems unlikely to have reacted to the data.

Instead, the Aussie continued its rally that began at around 1:40 GMT, likely hinting at investors taking off risk ahead of the Reserve Bank of Australia’s interest rate decision at 4:30 GMT. At the time of this writing, AUD/USD is trading at 0.89208 and swaps are currently pricing in market certainty for a rate cut.

Because expectations are so heavily priced in, such a move may not be as market-moving as rhetoric suggesting the central bank’s forward guidance. A dovish tone that maintains the RBA’s scope for further easing could lower the appeal of the currency to yield-seeking investors and move the pair lower. However, if the reserve bank sees an improved outlook for the economy, expectations for prolonged easing could be reduced, moving AUD/USD higher. Commentary perceived to be ambiguous could amplify the role of domestic economic data in fueling expectations for RBA policy.

Chinese output data will likely remain influential for the pair as they serve as proxies to gauge the health of Australian exporters. Figures suggesting another slowdown could lead investors to speculate on further easing efforts by the RBA to encourage growth, moving the pair lower. Conversely, positive numbers could move the pair in the opposite direction.

AUD/USD (5-Minute Chart)

AUDUSD_Continues_Higher_Ahead_of_RBA_Interest_Rate_Decision_______body_Picture_1.png, AUD/USD Higher As Market Eyes RBA Interest Rate Decision

Source: FXCM Marketscope

Jimmy Yang, DailyFX Research Team

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

DISCLOSURES

News & Analysis at your fingertips.