The RBA announced that it will hold the overnight cash rate at the record low of 2.5%. Economists had mostly expected a rate-hold. Glenn Stevens statement pointed out both improvements, and continuing weakness in the economy: The AUD/USD has been bullish going into the release, though it slowed down ahead of it. The 4H chart below shows a bullish market that was trading at a projected channel resistance ahead of the RBA statement. After the statement…

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AUD/USD has posted gains in Tuesday trading. Early in the North American session, the pair is trading in the low-0.94 range. The Australian dollar got a boost after the release of the RBA minutes, in which the Bank said that recent rate cuts were working. Later on Tuesday, Australian MI Leading Index will be released. Over in the US, it’s another […]

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Aussie Dollar traded lower this morning following the release of RBA Monetary Policy Statement. In it RBA lowered 2014 growth forecast, citing reduced mining investments for reason of decline growth. High AUD is also another factor that was cited, with RBA saying that lower exchange rate likely needed to ensure stable growth. AUD/USD pushed to […]

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Latest Employment Data from Australia showed number of employed growing by 1.1K in the month of October versus an expected 10.0K. This itself would be a bearish enough reason to send AUD/USD scurrying lower, but the data beneath the headline figure is even more bearish. Full Time employment numbers have fallen by 27.9K, one of […]

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ECB Preview: There is no tapering talk from the ECB. Not these days. Instead there’s been talk of a possible LTRO III so to speak. This is basically another form of QE and is EUR-negative and has been attributed to the EUR’s weakness of late. Benchmark interest rate likely to stay the the same at historic low of 0.50%. There are even talks of interest rate cut, which like QE is meant to increase liquidity to the financial markets…

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Aussie Dollar traded higher on Monday open following a stronger than expected Chinese Non-Manufacturing PMI which was released over the weekend. Service sector in China reflected stronger growth rates for the month of October, coming in at 56.3 versus September’s 55.4. This came hot on the heels of last Friday’s Manufacturing PMI which was similarly […]

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AUD/USD has posted sharp losses on Wednesday, shedding close to 100 points. The pair is trading close to the 0.96 level in Wednesday’s European session.  The Australian dollar lost ground despite an excellent CPI release, which posted its sharpest gain in four months. It’s a quiet day in the US, with no major events on today’s schedule. Australian CPI, one of the […]

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