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. See our updated Privacy Policy here.

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
Bullish
Wall Street
Bearish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • It’s important for traders to be familiar with FX spreads as they are the primary cost of trading currencies. Understand a pair's spread here: https://t.co/zEEUHZBx7g https://t.co/KMmPnHt3Ce
  • RBA Minutes: Rate rise conditions unlikely met until 2024 at earliest, changing 3-year yield target from 0.1% not warranted. Will continue bond buys if assists progress towards goals -BBG $AUDUSD #RBA
  • RT @BrendanFaganFx: Japanese Yen Analysis: USD/JPY Points Higher as GDP Data Misses Expectations $USDJPY Link: https://www.dailyfx.com/forex/market_alert/2021/05/18/Japanese-Yen-Analysis-USDJPY-Points-Higher-as-GDP-Data-Misses-Expectations.html
  • Heads Up:🇦🇺 RBA Meeting Minutes due at 01:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-05-18
  • Japan's Economic Minister Yasutoshi says Q1 GDP drop due largely to dip in consumption - BBG
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: https://t.co/bTXkGN1CIM #DailyFXGuides https://t.co/hJeqJek0Ai
  • 🇯🇵 GDP Growth Rate QoQ Prel (Q1) Actual: -1.3% Expected: -1.2% Previous: 2.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • 🇯🇵 GDP Growth Annualized Prel (Q1) Actual: -5.1% Expected: -4.6% Previous: 11.6% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Heads Up:🇯🇵 GDP Growth Rate QoQ Prel (Q1) due at 23:50 GMT (15min) Expected: -1.2% Previous: 2.8% https://www.dailyfx.com/economic-calendar#2021-05-17
  • Heads Up:🇯🇵 GDP Growth Annualized Prel (Q1) due at 23:50 GMT (15min) Expected: -4.6% Previous: 11.7% https://www.dailyfx.com/economic-calendar#2021-05-17
Aussie Dollar Gains as RBA Keeps Policy Stance Unchanged

Aussie Dollar Gains as RBA Keeps Policy Stance Unchanged

Varun Jaitly,

Talking Points:

  • The Australian Dollar advanced after the RBA kept the cash rate unchanged at 1.5 percent
  • The currency rose with bond yields, hinting traders saw a hawkish lean in RBA rhetoric
  • Inflation seen above 2 percent this year, Aussie gains may complicate economic adjustment

Check out our analysts 1Q 2017 Australian Dollar forecasts on the DailyFX Trading Guides page.

The Australian Dollar rose to a session high following the Reserve Bank of Australia’s decision to maintain its headline interest rate at 1.5 percent. The decision to hold rates was widely expected. In its policy statement, the RBA repeated the expectation that current policy will deliver sustainable growth a return to the inflation target over time, which traders seemed to interpret as relatively hawkish. Indeed, the currency rose alongside local bond yields.

In its assessment of domestic economic conditions, the central bank said that its price growth outlook is largely unchanged, noting that while inflation remains “quite low” the headline rate is seen surpassing 2 percent in 2017. On the labor market front, officials seemed broadly upbeat despite considerable regional variations. As for external demand, the Bank said higher commodity prices have been helpful but a stronger Aussie would complicate needed adjustments from the mining investment boom.

From here, additional details may be on offer in a speech from RBA Governor Philip Lowe tomorrow at 09:00 GMT as well as the central bank’s statement on monetary policy at 00:30 GMT on Friday.

Aussie Dollar Gains as RBA Keeps Policy Stance Unchanged

Chart compiled using Trading View

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

DISCLOSURES