The Reserve Bank of Australia (RBA) is widely anticipated to maintain its current interest rates at 4.35% following its two-day meeting concluding on Tuesday. Despite holding rates steady since December, the RBA has hinted at the possibility of further rate hikes due to persistently high inflation, which has exceeded its target range of 2% to 3%.
Tag - aud - australian dollar
The US Bureau of Labor Statistics (BLS) reported that the Consumer Price Index (CPI) in the US increased to 3.2% year-over-year in February from 3.1% in January. The Core CPI, which excludes volatile food and energy prices, rose 3.8% year-over-year, slightly below January's 3.9% but above market expectations of 3.7%. Both the CPI and Core CPI also rose by 0.4% on a monthly basis.
Last Tuesday, the Australian dollar experienced its steepest drop of the year, falling by 1.18%, following higher-than-expected US inflation figures, which boosted the US dollar. However, the Aussie has since rebounded and is now trading at a two-week high against the US dollar. Investors are...
The higher-than-expected inflation data for January has reignited concerns about rising prices and its implications for Federal Reserve policy. While investors had anticipated rate cuts in the near term, the hot inflation print may delay such actions. As the Fed navigates the delicate balance between containing inflation and...
The US Dollar Index (DXY) has been in a consolidation phase since early February, displaying minor signs of weakening last week. Despite this, the USD continues to find support around the 104.00 mark on dips, indicating a general resilience. Analysis suggests that the USD may currently be overvalued in the short term when considering various factors
Bearish Scenario: Selling below 0.6516 with TP1: 0.65, TP2: 0.6487, and upon its breakout TP3: 0.6469 Bullish Scenario: Buying above 0.6540 with TP1: 0.6572, TP2: 0.6594, and TP3: 0.66
Traders are closely monitoring Fed speeches, particularly Fed's Mester speech scheduled for Tuesday, for further insights into monetary policy directions. Additionally, market participants await key economic releases later in the week, including New Zealand's Unemployment Rate for Q4 and ...
Major currency pairs like USD/JPY and USD/CHF face potential shifts in trends as central banks reevaluate interest rates. The Euro and British Pound are poised for nuanced movements based on economic conditions and rate decisions. Meanwhile, the Australian and New Zealand Dollars grapple with changing interest rate...
The recent economic data presents a nuanced narrative, showcasing the resilience of the US economy amid uncertainties. As we navigate through the mixed signals of GDP growth, price index fluctuations, and surprising jobless claims, it becomes evident that a comprehensive understanding...
Just a few hours ago, Andrew Bailey, the governor of the BoE gave a speech regarding his testimony, along with Deputy Governor Sarah Breeden, on the Financial Stability Report before the Treasury Select Committee, in London. The speech reflects the commitment of the BoE to continue its projection towards the target inflation rate. Although the speech didn’t yield much market volatility at the time of writing, here are my trade ideas based on the price data.
Hey friends, as we prepare for the new month, and the new year, here are some of my anticipated trade ideas for January. Do note, however, that these are long-term views and would therefore require patience as they unfold.
The U.S. dollar, as gauged by the DXY index, experienced a significant drop of nearly 0.9% yesterday. This decline was driven by a substantial fall in U.S. Treasury rates following the Federal Reserve's unexpected dovish guidance. The Fed's departure from the...