rba cuts rates aussie dollar strengthens 568372015
<p>The RBA cut interest rates overnight from 2.25% to 2.00%, which was largely expected. However, an anticipated sell-off didn’t follow despite initially pushing AUD/USD down […]</p>
Share this:
The RBA cut interest rates overnight from 2.25% to 2.00%, which was largely expected. However, an anticipated sell-off didn’t follow despite initially pushing AUD/USD down to lows of 0.7796, but with a hawkish tone in the statement and no word of further easing we now see the Aussie trading higher and just below the 0.79 level.
In the UK, the Construction PMI has been released and it’s another weak read at 54.2 from 57.8. This sent cable down to the lows of the day at 1.5091 but since has found good support and is now back above the 1.51.
This afternoon important US data is set to be released with the trade balance kicking us off, which is expected to be weaker around the -41.2b level from -35.4b. The more important of the data will be at 3pm UK time, which is the ISM non-manufacturing PMI expected to be 56.2 – pretty close to its last read of 56.5.
EUR/USD
Support 1.1070 1.1040 1.0990 | Resistance 1.1150-1.1190-1.1280
USD/JPY
Support 118.60-118.20-117.80 | Resistance 119.40-119.80-120.20
GBP/USD
Support 1.5050-1.4900-1.4750 | Resistance 1.5155-1.5350-1.5500
Related tags:
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.