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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.
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Swissie consolidates near 200 DMA
U.S. Congress reached a deal on spending bill yesterday, effectively averting government shutdown. That saw some mild U.S. dollar strength in the first hours of trading. There's a holiday today in the U.K. and most of the E.U., but the N.A. session kicks off with U.S. treasury secretary Mnuchin's speech and ISM Manufacturing PMI later.
Swissie is trading near the middle of a declining wedge pattern, right at 200 DMA. I expect it to stay in equilibrium at least until the new French president is k…
Swissie is trading near the middle of a declining wedge pattern, right at 200 DMA. I expect it to stay in equilibrium at least until the new French president is k…