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
Bearish
GBP/USD
Bearish
USD/JPY
Mixed
Gold
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
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Notice

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • #DidYouKnow traders generally prefer using candlestick charts for day-trading because they offer an enjoyable visual perception of price. Find out how you can utilize it in your trading strategy here: https://t.co/yFn12QgmxO https://t.co/QyHKRJOhDW
  • En español: ¿Qué trayectoria tomará el tipo de cambio del $EURUSD tras los anuncios de política monetaria del Banco Central Europeo y la Reserva Federal? #trading #forex #euro #EURUSD https://t.co/X1nRprTTRU https://t.co/5ZRMRpkro3
  • How can traders avoid #FOMOintrading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 https://t.co/eKVhbAGd4C
  • The $NZD has slumped back toward support at four-year lows as sellers retake control of price action after a punchy but brief corrective recovery. Get your market update from @IlyaSpivak here: https://t.co/72JZNVKUy4 https://t.co/e8ygfe6gGf
  • Part of trading is losing, that’s just a fact that everyone must accept straight away, How can #FOMO create hurdles in the process? Find out from @PaulRobinsonFX here: https://t.co/MwChGXI42z https://t.co/slj8Xr0dxH
  • #USDollar May Rise if US #GDP Data, #TradeWar Risks Spook Markets https://www.dailyfx.com/forex/fundamental/forecast/weekly/usd/2019/09/21/US-Dollar-May-Rise-if-US-GDP-Data-Trade-War-Risks-Spook-Markets.html
  • Asia #FX markets will be closely watching for developments in the ongoing China-led RCEP trade negotiations against the backdrop of slower global growth and rising protectionism. Get your market update from @ZabelinDimitri here: https://t.co/HZ8Loqj3Ey https://t.co/g332JcY549
  • What are trading journals? How can you create one and reduce your #FOMOintrading? Find out: https://t.co/0akgWbyJEw https://t.co/Xyy7rxZHip
  • 💷 $GBP British Pound Weekly Technical Outlook My latest take on Sterling price action as #Brexit risk comes back into scope. Commentary on the charts and implied volatility table included. More via @DailyFX ➡️ https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/09/21/gbp-to-usd-price-analysis-british-pound-eyes-rise-in-brexit-risk.html https://t.co/Hd6LAurfqG
  • The Singapore Dollar is driven by the Monetary Authority of Singapore, which manages exchange rate instead of short-term interest rates. Learn more on the $SGD and how to trade it from @ddubrovskyFX here: https://t.co/eWLM9XZs5Y https://t.co/SCHhCQhlFV
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!

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

DISCLOSURES

News & Analysis at your fingertips.