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
Oil - US Crude
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
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bullish
USD/JPY
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
More View more
Real Time News
  • Heads Up:💶 Retail Sales YoY (MAR) due at 09:00 GMT (15min) Expected: 9.6% Previous: -2.9% https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇦🇺 RBA Debelle Speech due at 09:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-06
  • Why financial market traders must monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/ffKynOknhM
  • 🇬🇧 Markit/CIPS UK Services PMI Final (APR) Actual: 61.0 Expected: 60.1 Previous: 56.3 https://www.dailyfx.com/economic-calendar#2021-05-06
  • 🇬🇧 Markit/CIPS Composite PMI Final (APR) Actual: 60.7 Expected: 60 Previous: 56.4 https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 Markit/CIPS UK Services PMI Final (APR) due at 08:30 GMT (15min) Expected: 60.1 Previous: 56.3 https://www.dailyfx.com/economic-calendar#2021-05-06
  • Heads Up:🇬🇧 Markit/CIPS Composite PMI Final (APR) due at 08:30 GMT (15min) Expected: 60 Previous: 56.4 https://www.dailyfx.com/economic-calendar#2021-05-06
  • 🇳🇴 Norges Bank Interest Rate Decision Actual: 0% Expected: 0% Previous: 0% https://www.dailyfx.com/economic-calendar#2021-05-06
  • British Pound Aims Higher with BOE Stimulus Unwind in Focus - https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2021/05/06/British-Pound-Aims-Higher-with-BOE-Stimulus-Unwind-in-Focus.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #GBP #BOE #SuperThursday https://t.co/3MQfieEU3g
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.28%, while traders in France 40 are at opposite extremes with 78.36%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/37chG31FJd
AUD/USD Gains as Neutral RBA Weakens Rate Cut Expectations

AUD/USD Gains as Neutral RBA Weakens Rate Cut Expectations

Daniel Dubrovsky, Strategist

Talking Points

  • AUD/USD gains after status-quo RBA monetary policy announcement
  • Baseline lending rate unchanged at 2 percent, forward guidance static
  • Aussie rose alongside bond yields, hinting at fading rate cut outlook

Find key turning points for the Australian Dollar with DailyFX SSI.

The Australian Dollar rallied after the Reserve Bank of Australia held its benchmark lending rate at 2 percent, as widely expected. However, overnight index swaps priced in at least one cut over the next 12 months leading up to the announcement. This puts the forward guidance issued from the central bank in the spotlight as the markets looked for hints on the timing of futureeasing.

On the whole, the text of the policy statement was broadly unchanged from the one released in March. The RBA reiterated that low inflation would provide the scope for easier policy if that proves appropriate. They maintained that prices will likely remain low over the next year or two. Officials added that the Australian Dollar’s recent appreciation could complicate the adjustment under way in the economy as it continues to rebalance following the mining investment boom.

As the announcement crossed the wires, Australian front-end government bond yields rallied more than 1 percent. This suggests that today’s announcement effectively delays realization of the markets’ modestly dovish long-term view, perhaps explaining Aussie strength despite the status-quo outcome.

AUD/USD Gains as Neutral RBA Weakens Rate Cut Expectations

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

DISCLOSURES