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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
U.S. dollar sold after FOMC decision
FOMC hiked federal funds rate by 25 basis points, as expected. Kashkari and Evans dissented. Rate statement hasn't changed much. Initial reaction was to sell the dollar, then shorts got squeezed but the dollar looks heavy across the board. Let's see what Janet Yellen has to say on her farewell press conference in a couple of minutes.
New Zealand dollar marked up on upbeat RBNZ
RBNZ kept its official cash rate on hold, as expected. Rate statement was fairly upbeat. The bank upgraded OCR forecast. Governor Spencer sounded hawkish. NZD/USD jumped about 40 pips, pulled back and added a few more during press conference.
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.…
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.
Kiwi falls as RBNZ remains cautious
The RBNZ left official cash rate at the record low of 1.75%. Rate statement doesn't differ much from the previous one but the bank says that "monetary policy will remain accommodative for a considerable period". Language on exchange rate didn't change but they'd like their currency lower.
Kiwi started to fall before the announcement and is currently trading a cent below the pre-announcement levels. 0.72 is the immediate support but 0.71 - 0.7125 band, where 50, 100 and 200 DMA converge, looks li…
Kiwi started to fall before the announcement and is currently trading a cent below the pre-announcement levels. 0.72 is the immediate support but 0.71 - 0.7125 band, where 50, 100 and 200 DMA converge, looks li…
Aussie rallies on upbeat RBA rate statement
The RBA left cash rate at the record low of 1.50%. However, the accompanying statement looks upbeat and the bank doesn't seem concerned with the appreciating exchange rate any more than before. They even explicitly mention that "the depreciation of the exchange rate since 2013 has also assisted the economy".
After the usual stop run on the downside, the Australian dollar shot up about 40 pips. 0.76 - 0.765 should hold, if this market is indeed bullish. 0.77 is the initial target and then the hig…
After the usual stop run on the downside, the Australian dollar shot up about 40 pips. 0.76 - 0.765 should hold, if this market is indeed bullish. 0.77 is the initial target and then the hig…
Aussie not moved by the RBA
As expected, RBA left cash rate at the record low of 1.50% today. Rate statement was little changed from the previous one. I'd classify it as a neutral one, implying that the bank is on the sidelines for at least few more months.
Reaction in the Aussie was minuscule, the range since the decision has been about 15 pips. 0.75 level, backed by 200 DMA, continue to cap the pair after it has bounced off of the 50.0% retracement of this year's upswing, near 0.73.
Reaction in the Aussie was minuscule, the range since the decision has been about 15 pips. 0.75 level, backed by 200 DMA, continue to cap the pair after it has bounced off of the 50.0% retracement of this year's upswing, near 0.73.
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…
Aussie dollar unimpressed by the RBA
The RBA hold its cash rate at 1.50% today. It was new governor Philip Lowe's first meeting after former governor Glenn Stevens stepped down in September. The rate statement is similar to the previous one and a fairly neutral one.
Aussie fell about 15 pips after the release in a largely sideways market. The pair is at an important inflection point. 2011 - 2016 support/resistance line, 2013 - 2016 downtrend line and 0.77 level form a strong resistance. 50 DMA is the first stronger support.
Aussie fell about 15 pips after the release in a largely sideways market. The pair is at an important inflection point. 2011 - 2016 support/resistance line, 2013 - 2016 downtrend line and 0.77 level form a strong resistance. 50 DMA is the first stronger support.