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
Mixed
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.77% Silver: 0.67% Gold: 0.41% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/vqhNULQSZH
  • A Symmetrical Triangle and long-term trendline resistance provide key levels to watch for NZD/CHF and CAD/CHF. Get your market update from @FxWestwater here:https://t.co/kgfZ8qZRRz https://t.co/BhpXTXz5Ir
  • Forex Update: As of 03:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.31% 🇨🇦CAD: 0.17% 🇬🇧GBP: 0.16% 🇪🇺EUR: 0.14% 🇳🇿NZD: 0.13% 🇨🇭CHF: 0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/U975Up5oUh
  • The #HSI looks set to re-challenge the 28,970 resistance. Will it succeed and attempt 30,000 mark today? https://t.co/ujmzRDsByq
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in EUR/JPY are at opposite extremes with 64.29%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wdG2u51Kl2
  • Japanese Chief Cabinet Secretary Kato: - Vaccine schedule can't be fixed before approval - Tokyo area still facing severe Covid situation - BBG $USDJPY
  • The British Pound may continue gaining ground against its haven-associated counterparts in the near term. However, the currency may give up gained ground against the New Zealand Dollar.Get your $GBP market update from @DanielGMoss here:https://t.co/cIp4BfbsXT https://t.co/VS6g0Z3FKO
  • Not the most common of the Dollar-based majors, but $NZDUSD has tentatively broken its persistent bull trend while net spec futures positioning (COT) hit its highest level since May 2018 https://t.co/4HUxRWqzN4
  • 🇨🇳 FDI (YTD) YoY (DEC) Actual: 6.2% Previous: 6.3% https://www.dailyfx.com/economic-calendar#2021-01-20
  • Wall Street Futures Update: Dow Jones (+0.13%) S&P 500 (+0.21%) Nasdaq 100 (+0.43%) [delayed] -BBG
Aussie Dollar Declines After RBA Cuts Rates by 25 Basis Points

Aussie Dollar Declines After RBA Cuts Rates by 25 Basis Points

Daniel Dubrovsky, Analyst

Talking Points:

  • Aussie Dollar heads for biggest drop since June 2013 at -1.6%
  • RBA cuts rates to 2.25% vs 2.50% prior
  • RBA says further rate cut was appropriate to achieve balanced growth

The Australian Dollar declined over 1.6 percent versus the US Dollar after the Reserve Bank cut rates by 25 basis points. Economists were expecting the bank to keep rates unchanged at 2.50 percent. Today’s change in monetary policy marked the first time the bank adjusted rates since August 7 2013, or 15 consecutive meetings.

Despite improving economic data out of Australia relative to forecasts, the Bank’s decision to cut rates was seen as appropriate to achieve balanced growth. There was overall negative sentiment on domestic demand growth, output growth, and unemployment rates from RBA. The board also mentioned that the Australian Dollar was seen above most estimates of fundamental value. After the dovish statements made by the bank, market’s are pricing in an almost guaranteed 99% chance of a 25bps rate cut during the next rate decision.

Aussie Dollar Declines After RBA Cuts Rates by 25 Basis PointsAussie Dollar Declines After RBA Cuts Rates by 25 Basis PointsAussie Dollar Declines After RBA Cuts Rates by 25 Basis Points

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

DISCLOSURES