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
GBP/USD
Bullish
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
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Asia’s vast and growing importance to the world economy is not yet matched by the presence of a currency trading center to rival the established order. Get your update on market drivers in Asia from @DavidCottleFX here: https://t.co/E2hqoRdO7q https://t.co/urMnUCq4fn
  • RT @markets: White-hot pot stocks have flamed out in spectacular fashion https://t.co/3GsVsRyZaZ
  • What is the best time to trade #forex? Find out: https://t.co/M9R46r5ewa #tradingstyle https://t.co/gJ1QDrox67
  • #Gold prices may be given a tailwind from the FOMC minutes and escalating trade war risks if they fuel demand for anti-fiat assets amid expectations of additional Fed easing. Get your $XAUUSD market update from @ZabelinDimitri here: https://t.co/OJ7WUY9W7E $gld https://t.co/kBp3opzptm
  • Why should you set trading goals? How can it help regardless of what your #tradingstyle is? Find out: https://t.co/AYdD7ODlv1 https://t.co/G0ftVurNNN
  • Manning the penalty box today...i hope there aren't too many visitors https://t.co/1y81Li7laL
  • Do you think your #tradingstyle is of a #FOMO trader? Find out how you can turn that to #JOMO? Find out: https://t.co/79Q4pYdVEd https://t.co/S82AOd5AeP
  • What are the truths and lies of #forex trading regardless of your #tradingstyle here: https://t.co/uF75VPzstr https://t.co/xJ808KvLxr
  • RT @PaulMDomenick: “But Paul, I don’t have a mentor!! Really? •Do you have YouTube? You have a mentor! •Do you have a bookstore? You hav…
  • Trade deal bets kept the Singapore Dollar, Philippine Peso, Indonesian Rupiah and Malaysian Ringgit afloat despite $USD strength. This is the key fundamental driver for #ASEAN FX.Get your market update from @ddubrovskyFX here: https://t.co/aB8qP3JsB4 https://t.co/TiKvOV1M6k
Australian Dollar Relaxed as RBA Minutes Offer Familiar Fare

Australian Dollar Relaxed as RBA Minutes Offer Familiar Fare

2017-06-20 02:50:00
David Cottle, Analyst
Share:

Talking Points:

  • The Reserve Bank of Australia’s policy minutes went over old ground
  • Housing and employment merit watching, as does Australian Dollar strength
  • The People’s Bank of China Governor spoke shortly before the minutes’ release. He focused on financial sector reform

Get the trading community’s take on your favourite currency of the moment at the DailyFX sentiment page

The Australian Dollar didn’t move much Tuesday following the release of minutes from the Reserve Bank of Australia’s June 6 monetary policy meeting.

That conclave saw the Official Cash Rate left on hold at its record, 1.50% low, as had been universally expected. Indeed, rate futures markets don’t price in any changes to the OCR this year or, indeed, well into next.

The RBA said once again that it was watching labor and housing markets closely, which will probably mean data on those subjects retain the most power to move the currency in the months ahead. They certainly did last week when a blockbuster set of official employment figures gave AUD/USD wings.

The minutes repeated the RBA’s now-common warning that a rising Australian Dollar would complicate the country’s necessary economic adjustment. They also fretted about slow wage growth and under-employment, but again these are old themes and failed to make much impact on AUD/USD.

Australian Dollar Relaxed as RBA Minutes Offer Familiar Fare

Shortly before the minutes’ release, People’s Bank of China Governor Zhou Xiaochuan spoke in Shanghai. He kept away from monetary policy, by and large, confining himself to worrying about the “global uncertainties” to which every central banker now must refer.

Zhou was however forthright about the need to deepen global financial reform, warning that instability in finance can lead to “chaos.” He was also vocal about opening Chinese financial services to international competition, saying that protectionism here could lead to “slackness” while competition means prosperity. He also said that the China International Payments System would officially be launched in Shanghai.

Making up a triumvirate of economic news which has signally failed to move the Aussie Tuesday, official house price index was revealed to have gained 2.2% in the second quarter. That was down from the previous quarter’s 4.1% rise, but the on-year gain was still a chunky 10.2%.

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

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

DISCLOSURES

News & Analysis at your fingertips.