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
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
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
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • 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/UalZ8cRSXB https://t.co/YgTLOf10s7
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.21% 🇦🇺AUD: 0.19% 🇳🇿NZD: 0.16% 🇬🇧GBP: 0.12% 🇨🇭CHF: 0.11% 🇯🇵JPY: -0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qL7nMxUXEP
  • #Market Snapshot Risk-on tilt to kick-off a fresh quarter of trade Haven-associated $USD and $JPY losing ground while $AUDUSD and $EURUSD trek higher #SP500 futures following #CrudeOil and the #ASX200 higher $Gold dipping back towards session-lows https://t.co/oJemFdRsdt
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.17%, while traders in Wall Street are at opposite extremes with 65.50%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/X3E4khU9qC
  • American Airlines say it is planning to furlough 19,000 employees after the government fails to pass its delayed fiscal stimulus follow up. United warned previously it could furlough 12,000 of its employees and Disney laid off 28,000 of its workers. #pandemic
  • GBP/USD was putting together a strong rally yesterday, but fizzled and put price closing in the bottom half of its daily range. Get your $GBPUSD technical analysis from @PaulRobinsonFX here:https://t.co/34HxGeksHU https://t.co/qMxdumej4w
  • The Tokyo Stock Exchange said before the opening bell on Thursday that it would suspend trading in all stocks, due to a glitch in its system to distribute market information - https://t.co/CNsaUCWgBa
  • What is seasonal change in volatility. Are we going through one right now? Find out: https://t.co/G0qfpOmMl2 https://t.co/p2NG16qNBx
  • 🇰🇷 Balance of Trade (SEP) Actual: $8.88B Previous: $3.84B https://www.dailyfx.com/economic-calendar#2020-10-01
  • And so starts October: the peak of volatility as measured by the $VIX historically and the most active month according to $SPX volume https://t.co/O2HDsGgrWH
Australian Dollar Wilts On RBA Minutes, Jobless Data Could Be Key

Australian Dollar Wilts On RBA Minutes, Jobless Data Could Be Key

2019-04-16 01:53:00
David Cottle, Analyst
Share:

Australian Dollar, Reserve Bank of Australia Monetary Policy Minutes, Talking Points:

  • RBA rate setters saw very little chance of higher rates
  • They said that continued low inflation might warrant a cut, especially if employment growth stalls
  • AUD/USD slipped back and is getting closer to its former downtrend

Get live, interactive coverage of all major Australian economic data at the DailyFX Webinars

The Australian Dollar slipped Tuesday after the minutes of the last monetary policy meeting showed more apparent emphasis on the consequences of lower interest rates.

Rate setters said that a rate cut would be appropriate if inflation stayed low and unemployment trended up and that, given subdued inflation, the likelihood of a near-term rise in rates was low. The meeting itself resulted in the key Official Cash Rate remaining on hold at its record, 1.50% low for a 32nd straight month.

This is the longest period of stasis in Australian history but, nevertheless, rate futures markets still price-in the prospect that the next move, when it comes will be a cut.

The minutes suggested that the RBA now tends to agree and sure enough AUD/USD headed down.

Australian Dollar Vs US Dollar, 5-Minute Chart

On its daily chart the Aussie remains above the long downtrend which persisted through much of 2018 as US interest rates rose while Australia’s stayed put. Resilient global risk appetite has boosted the Australian currency. but the minutes have put market minds back on its utter lack of domestic monetary policy support.

Australian Dollar Vs US Dollar, Daily Chart.

The next key domestic data hurdle for the Aussie will now be official local employment data which come out on Thursday. The Australian economy has been something of a job creation powerhouse in the last few years, but the tone of the minutes suggests that the RBA is worried that this strength could be about to fade.

Before that, however, on Wednesday, will come official Chinese Gross Domestic Product numbers. These will clearly matter to the AUD/USD market given Australia’s huge trading links with the world’s second largest economy.

Resources for Traders

Whether you’re new to trading or an old hand DailyFX has plenty of resources to help you. There’s our trading sentiment indicator which shows you live how IG clients are positioned right now. We also hold educational and analytical webinars and offer trading guides, with one specifically aimed at those new to foreign exchange markets. There’s also a Bitcoin guide. Be sure to make the most of them all. They were written by our seasoned trading experts and they’re all free.

--- Written by David Cottle, DailyFX Research

Follow David on Twitter@DavidCottleFX or use the Comments section below to get in touch!

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

DISCLOSURES