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
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
USD/JPY
Bearish
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
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • The Indian Rupee soared after the Reserve Bank of India surprised with a rate hold. $USDINR may climb as support reinstates the uptrend ahead of Indian CPI and global trade tensions. Get your market update from @ddubrovskyFX here:https://t.co/QEOabsDfMn https://t.co/rqn8Zjrvkv
  • #Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the $XAUUSD weekly chart. Get your $gld technical analysis from @MBForex here: https://t.co/RILBGhLAQZ https://t.co/q5znMUlEQA
  • German Bund Yields Update: 2-Year: -0.639% 3-Year: -0.651% 5-Year: -0.548% 7-Year: -0.480% 10-Year: -0.290% 30-Year: 0.228%
  • The $AUD erased half of November’s down move in a mere two days but the dominant trend bias continues to favor weakness ahead. Get your market update from @IlyaSpivak here:https://t.co/ShYksfNXyS https://t.co/OVhyNgLRn5
  • We were almost there, but the $SPX fell short of a >1.0% daily change. That raises the tally to 39 consecutive trading days without a climb or fall of even a moderate measure https://t.co/ibt82dBGmh
  • En español: El oro tropieza y se precipita en caída libre. ¿Qué explica las pérdidas del metal dorado y la alta volatilidad en los mercados financieros? #XAUUSD #trading $gold https://t.co/Hdsd0z1qih https://t.co/WKnGaABVS8
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.35% 🇦🇺AUD: 0.17% 🇯🇵JPY: 0.14% 🇨🇭CHF: -0.30% 🇪🇺EUR: -0.38% 🇨🇦CAD: -0.59% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lrSRyCHLjw
  • Martin Guzman named as Argentina's new Minister of Economy $USDARS
  • YouGov poll finds 52% for Johnson winning debate vs 48% for Corbyn $GBPUSD
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.15% Gold: -1.07% Silver: -2.28% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/MUWxfLEsGn
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

News & Analysis at your fingertips.