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
Mixed
Oil - US Crude
Bullish
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
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
More View more
Real Time News
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/gNiVpWrd1p
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here: https://t.co/BdgFmkRxVw https://t.co/4zEwS7mFJE
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/nB2f5m56nq
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here: https://t.co/9S5tXIs3SX https://t.co/Q0yRRpMpPX
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here: https://t.co/eILWbFgHRE https://t.co/pSeSiNnmHe
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/iVOEuK40rn
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here: https://t.co/SQUCCYRCIk https://t.co/ltEO5dpKux
  • WTI crude oil is currently trading up against major resistance via the 2019 and 2020 highs within the confines of a channel; something has to give. Get your market update from @PaulRobinsonFX here: https://t.co/MO9foRjm2y https://t.co/YhBFdvZDEb
  • The Dow Jones and S&P 500 outlook appears bleak in the near term as retail traders increase their upside exposure. At the same time, these indices confirmed bearish technical warning signs. Get your market update from @ddubrovskyFX here:https://t.co/fKCHELbOxo https://t.co/eVDwmFTaIg
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge: https://t.co/Qgz89PTxnu https://t.co/8B8hqHahm1
Australian Dollar Sees Volatility, Little Commitment to Trend after RBA Hold

Australian Dollar Sees Volatility, Little Commitment to Trend after RBA Hold

Varun Jaitly,

Talking Points:

  • AUD/USD initially fell nearly a quarter of a percent following RBA decision to leave rate unchanged
  • The RBA noted that the Australian economy grew roughly 2 and a half percent over 2016
  • The monetary policy statement was little changed from the RBA’s February meeting

See how retail traders are positioning in the Australian dollar using the DailyFX SSI readings on the sentiment page.

The Australian Dollar initially fell nearly a quarter of a percent following the Reserve Bank of Australia’s decision to leave the cash rate unchanged at 1.50 percent. However, that drop would not last long with the market’s leveling out the drop as markets digested the event. Australian bond yields were little changed following the monetary policy meeting.

The RBA has kept the key interest rate at 1.50 percent since it was lowered to this level in August 2016 from 1.75 percent. Probabilities of an Interest rate hike (a shift from anticipation of further easing through as recently as 2016) increased roughly 2 percent points from 9 to 11 percent by September and 11 to 13 percent as of December of 2017.

Following the template for previous meetings, the RBA noted the strength of the Chinese economy during the second half of 2016, citing higher infrastructure spending. The RBA stated that Australian economic growth was around two and a half percent in 2016, as exports and non-mining investment have risen over the year.

The RBA reiterated that the low level of interest rates has supported the outlook and the depreciation of the currency has assisted the economy during its transition away from the previous mining boom. The RBA also restated that an appreciating Australian dollar would complicate the transition of the economy – a familiar trope for this and other trade-oriented regions.

Consumer and business confidence were notably at, or above average levels, although the RBA noted that household income continues run a slow pace. Labor costs continue to see a lack in growth, as the RBA sees inflation remaining low for some time. However, the bank does expect headline inflation to reach above the 2 percent lower threshold of its target range over the course of 2017.

The RBA’s monetary policy statement today was little changed from their February meeting, where they also left the cash rate unchanged.

Australian Dollar Sees Volatility, Little Commitment to Trend after RBA Hold

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

DISCLOSURES