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
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
Oil - US Crude
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
Wall Street
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
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • USD/JPY and GBP/JPY may reverse lower in the near-term as both exchange rates fail to breach key resistance. CAD/JPY rates eyeing a retest of its post-crisis high. Get your market update from @DanielGMoss here:https://t.co/NptWy89cTa https://t.co/wbPm8lD0C0
  • - S&P 500 unimpressed by ongoing fiscal talks as #election nears - Third and final presidential debate coming up: what to expect - Why might the #SP500 index target an inflection point 3361? https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2020/10/20/SP-500-Uninspired-by-Fiscal-Talks-Ahead-of-Final-Presidential-Debate.html
  • Join @ddubrovskyFX 's #webinar at 8:00 PM ET / 0:00 GMT to find out what information you can gain from knowing what other traders are buying or selling. Register here: https://t.co/Bb3CTCTm44 https://t.co/k1eyZzhAWa
  • The British Pound may fall if EU and UK negotiators fail to reach a consensus as the December 31 deadline nears. The third presidential debate is on deck, how might markets react? Find out from @ZabelinDimitri here:https://t.co/kDSYzBDA3t https://t.co/wmltuIVo5h
  • #BTC testing confluent resistance at the Ascending Channel midpoint and September high (12067) RSI hints at further gains as it surges towards overbought territory Is #Bitcoin poised to break back above key resistance at the $12,000 mark? https://t.co/YCPnKq0VcJ https://t.co/EgHA4jELhI
  • I thought it was make or break today by the close on whether they can get a fiscal stimulus before the Nov 3rd election... https://t.co/YgwnE9vDXC
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.48% 🇪🇺EUR: 0.45% 🇨🇭CHF: 0.32% 🇯🇵JPY: -0.06% 🇦🇺AUD: -0.27% 🇳🇿NZD: -0.40% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0YPpZ9dwBY
  • USD/JPY Price Outlook: Dollar-Yen Undermined by Fiscal Stimulus Hopes Link to Analysis via @DailyFX: https://www.dailyfx.com/forex/market_alert/2020/10/20/usdjpy-usd-jpy-price-outlook-dollar-yen-undermined-by-stimulus-hopes.html $USDJPY $USD $JPY #FX #Forex #Trading https://t.co/yNss3yhgt7
  • It’s been relatively quiet in FX-land, but the USD did push below a big zone of support earlier today. Get your $USD currency pairs technical analysis from @JStanleyFX here:https://t.co/ZC8g3lVxoO https://t.co/lchSrr9hBO
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 1.02% Gold: 0.15% Oil - US Crude: -1.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/SN5ZJQwiRu
Australian Dollar Wilts. RBA Keeps Rate-Cut Prospects Very Much Alive

Australian Dollar Wilts. RBA Keeps Rate-Cut Prospects Very Much Alive

2019-09-17 02:00:00
David Cottle, Analyst
Share:

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

  • The RBA is prepared to cut rates again if necessary, the minutes said
  • An extended period of loose policy still looks likely
  • This wasn’t exactly news to AUD markets but they weakened anyway

Join our analysts for live, interactive coverage of all major economic data at the DailyFX Webinars. We’d love to have you along.

The Australian Dollar slipped Tuesday following the release of minutes from the Reserve Bank of Australia’s September monetary policy meeting which kept the prospect of lower interest rates very much alive.

At that event, on September 3, the RBA opted to leave the key Official Cash Rate on hold at the record low of 1% that’s been with us since July.

The RBA said it was ready to consider further policy easing as needed to support growth and inflation targets, while it was reasonable to expect an extended period of low interest rates. None of this was especially new but its emphasis was probably enough to curb Australian Dollar bulls in a market quite hostile to growth sensitive assets anyway thanks to last weekend’s drone strikes on Saudi Arabia.

Chart showing AUDUSD

AUD/USD had been drifting lower before the release in any case.

The RBA noted that local industry had weathered trade war storms somewhat better than most but said that upward wage pressure appeared to be stalling. Rate setters said a further, gradual lift here would be a welcome development.

They were also gloomy about US-China trade relations, although these have seen a notable improvement since the start of this month and it will be interesting to see whether this is acknowledged at the next meeting.

The Australian Dollar has certainly bounced powerfully from eleven-year lows made against itsUSrivallast month. The overall backdrop has become a lot more Aussie friendly given signs of a thaw in trade relations between China and the US.

This story feeds back to the growth-correlated Australian currency in many ways, be it via general support of global growth prospects or though Australia’s close trading and political links with both countries.

Chart showing AUDUSD

The prospect of more stimulus from the world’s monetary authorities has been raised by action already taken last week by the European Central Bank. Global markets are hopeful for more of the same from the Federal Reserve this week.

The current focus on oil prices has seen a modes risk rethink but this seems unlikely to last as long as Saudi oil production is seen to be recovering from last weekend’s ruinous drone strike.

The Australian Dollar still lacks monetary support of its own, however. The key Official Cash Rate stands at a record low of 1% and is expected to fall further yet. Domestic inflation is stickily low, and AUD/USD remains well within the downtrend channel which has contained trade since early 2018.

Australian Dollar 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