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.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
More View more
Real Time News
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here:
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here:
  • It seems the markets are riding high, but risk is always lurking around the corner. Consider your escape plan before you find yourself in collapsing market. What are the top havens for different conditions in 2021? Find out from @JohnKicklighter here:
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here:
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: #DailyFXGuides
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
Australian Dollar Steady As RBA Makes Expected Coronavirus Rate Cut

Australian Dollar Steady As RBA Makes Expected Coronavirus Rate Cut

David Cottle, Analyst

Australian Dollar, Reserve Bank of Australia Interest Rate Cut, Talking Points:

  • The key Official Cash Rate was cut to yet another record low of 0.25%
  • This had been broadly expected by markets reeling from the coronavirus impact
  • The US Federal Reserve announced further monetary support at the same time as the RBA

The Australian Dollar didn’t move far Thursday as the Reserve Bank of Australia cut a quarter percentage point from its benchmark lending rate in a widely expected move, part of that country’s economic response to the ravages of coronavirus.

The Official Cash Rate target had already been cut this month, but Thursday’s action takes it down to 0.25%. That’s a level which the RBA has previously suggested might be some sort of effective lower bound, although it may now be safer to assume that any such bets are off until the contagion has been defeated.

In a statement the RBA acknowledged that the disease has caused ‘major disruptions to economic activity’ worldwide, and that both monetary and fiscal policy will have key rolls to play in mitigating the impact.

The central bank said that the OCR target will not increase until progress is made towards full employment, and is confident that inflation will be sustainably within the 2-3% target band. This may be a veiled hint that the bar to still-lower rates is now very high, and that fiscal policy must also bear some stimulus load,

The RBA will also target a yield on three-year government bonds of around 0.25% via secondary market purchases, while offering easier funding terms to banks and other businesses.

The Australian Dollar market was as close to completely certain as these things ever get that rates would go lower on Thursday, and AUD/USD didn’t really have much scope to move on confirmation. The news also broke as the US Federal Reserve widened its own monetary support with the announcement of a Market Mutual Fund Liquidity Facility (MMLF) to help the flow of credit to households and businesses.

Australian Dollar Vs US Dollar, 5-Minute Chart
How to Use IG Client Sentiment in Your Trading
How to Use IG Client Sentiment in Your Trading
Recommended by David Cottle
Improve your trading with IG Client Sentiment Data
Get My Guide

However, as perhaps the pre-eminent growth-correlated currency the Australian Dollar has been hit especially hard by the spread of coronavirus and its attendant broad retreat from all such assets.

Australian Dollar Vs US Dollar, Daily Chart

While the US Dollar has retained and burnished its haven status in the wake of the outbreak, taking AUD/USD down to lows not seen since the fall of 2002. It’s highly unlikely that any major rebound will be seen for the currency while coronavirus dominates the headlines, but signs of a growing, coordinated global fiscal response may slow its fall.

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.