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Reserve Bank of Australia keeps cash rate at 1.5%. The rate is expected to stay there for some time to come. Rate statement remains upbeat. AUD/USD is down a few pips after the release. The pair is in the process of correcting the gains it scored since Friday. 50 DMA near 0.76 is the initial support.
al_dcdemo's Blog
AUD/USD pulling back after 150 pip rally
RBA meeting Minutes, released earlier today, did not offer anything new. Monetary policy (and cash rate) are on hold, but, unlike neutral RBNZ recently, RBA agrees that the next move in the rate will likely be up. AUD/USD is pulling back toward 0.75 after 150 pip rally from 12-month lows. 0.745 - 0.75 should now hold, if the rally is to continue, with 0.765 the initial target.
No changes from RBA, holiday trading in European morning
RBA keeps monetary policy stance firmly in neutral mode, with cash rate still at the record low of 1.50%. The U.S. dollar part of equation is currently driving AUD/USD, which made a marginal new low shortly after Europe opened for business. Or for the observance of Labour Day, that is. The holiday is likely to keep price action contained until afternoon.
RBA holds cash rate, remains cautiously optimistic
In the shadow of stock market sell-off, the first RBA meeting for the year ended without shocks. The bank held cash rate on the record low once again and remains cautiously optimistic. In the past seven days, AUD/USD gave back nearly half of the gains since December. 0.78 - 0.7825 is the initial support area to watch. 0.795 - 0.80 should now act as a resistance.
Aussie unimpressed as RBA remains neutral
At today's meeting, RBA decided to keep the cash rate on the record low of 1.5%. The accompanying statement is similar to the previous one, highlighting both upside and downside risks. The paragraph on the Australian dollar is unchanged.
The reaction was to sell Aussie on lack of any clear hawkish signal but, since the statement didn't deteriorate, selling didn't extend much lower. Area between 100 DMA and 0.78 held and European traders took AUD/USD back above the big figure. 0.7825 - 0.785 is t…
The reaction was to sell Aussie on lack of any clear hawkish signal but, since the statement didn't deteriorate, selling didn't extend much lower. Area between 100 DMA and 0.78 held and European traders took AUD/USD back above the big figure. 0.7825 - 0.785 is t…
RBA decision as expected, Aussie stays supported
RBA once again left cash rate on the record low of 1.5%. The accompanying statement from governor Lowe shows that the bank stays neutral. They are slightly more upbeat on the labour market and expect inflation to pick up gradually. Paragraph on Australian dollar remains in place.
Nothing shocking from them and, after some whipsaws on the release, AUD/USD appears to continue on the path of least resistance. Trendline, drawn off of June, July and August lows, is the support level to watch. 0.80 is…
Nothing shocking from them and, after some whipsaws on the release, AUD/USD appears to continue on the path of least resistance. Trendline, drawn off of June, July and August lows, is the support level to watch. 0.80 is…
RBA complains about Australian dollar strength
In line with expectations, RBA once again held cash rate on the record low of 1.5%. The statement from governor Lowe was longer than usual, though the message didn't differ much from the previous one. There was a whole new paragraph dedicated to Australian dollar and how its strength would not benefit the economy.
The pair dropped about 20 pips instantly and then squeezed higher but wasn't able to overcome overnight high. Sellers stepped back in and the pair is currently trading just below 0.80.…
The pair dropped about 20 pips instantly and then squeezed higher but wasn't able to overcome overnight high. Sellers stepped back in and the pair is currently trading just below 0.80.…
Aussie sells off on cautious RBA
The RBA once again left cash rate unchanged at the record low of 1.5%. Accompanying statement was not as upbeat as the previous one. The bank highlighted quite a few concerns, including subdued consumption growth stemming from slow growth in real wages and high levels of household debt.
Aussie was immediately marked down about 50 pips and further 40 pips in the following hours. There appears to be little chart based support until 0.75 - 0.7550. In the event of a pullback, 0.7625 - 0.7650 looks l…
Aussie was immediately marked down about 50 pips and further 40 pips in the following hours. There appears to be little chart based support until 0.75 - 0.7550. In the event of a pullback, 0.7625 - 0.7650 looks l…
RBA leaves monetary policy unchanged
RBA held cash rate steady, as expected. Rate statement was relatively upbeat, noting improvement in the global economy and pick-up in inflation. That was balanced with risks emanating from high level of debt in China and slow wage growth.
Aussie traded about 15 pips higher in the minutes after the release but has already given back all the gains. The pair bounced last week after retracing 50.0% of the year's rally. 0.744 - 0.75 is the current range support, 0.755 - 0.761 the resistance.
Aussie traded about 15 pips higher in the minutes after the release but has already given back all the gains. The pair bounced last week after retracing 50.0% of the year's rally. 0.744 - 0.75 is the current range support, 0.755 - 0.761 the resistance.
RBA holds cash rate, Aussie rallies
The RBA held cash rate at the record low of 1.50% at today's meeting. Even though this decision has been broadly anticipated, the pair added about 15 pips pre-release and around 50 pips post-release. A few were expecting a cut but the rally is partly due to lack of dovishness from them.
Technically, the pair bounced from 100 and 50 DMA last week and also successfully tested the trendline, drawn off of 2013 and 2014 highs, from above. 0.75 - 0.77 range is still in play and a test of the upper ext…
Technically, the pair bounced from 100 and 50 DMA last week and also successfully tested the trendline, drawn off of 2013 and 2014 highs, from above. 0.75 - 0.77 range is still in play and a test of the upper ext…