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The bullish wedge on AUD/NZD continues to play out nicely, having reached a 10-week high as of yesterday. But the trend may be in need of a pause, before further gains materialise.

Overall the statement remains fairly-balanced, although it continues to appear that RBA’s confidence in the labour market is fending off a dovish stance. We still see potantial for AUD/NZD's bullish wedge to play out.

A summary of the weekly Commitment of Traders Report (COT) from CFTC to show market positioning among large speculators.

The US dollar perked up mid-Asia, weighing notably on commodity currencies AUD and NZD ahead of the meeting. With a likely swing high in pace, AUD/USD could be headed for 70c.

Although the trend points lower, mean reversion appears likely over the near-term according to some indications.

The Australian dollar took a tumble across the board after today’s GDP miss. Coming in a 2.3% YoY versus 2.5% expected, it takes the 2018 average down to 2.9% and below RBA’s estimate of 3%.

US and Chinese trade negotiators kicked off another round of talks today after President Trump labeled last week’s discussions in Beijing “very productive.” Today and tomorrow feature lower-level officials to the table, with higher-level policymakers including US Trade Representative Lighthizer, Treasury Secretary Mnuchin, and Vice Prenier Liu He, c...

Tonight, the AUD/NZD will remain in focus because we will have key jobs data from New Zealand which could move the kiwi sharply, after the Reserve Bank of Australia Governor dropped the bomb on the Aussie in a surprisingly dovish speech overnight. We think there is the potential for a sizeable move to the downside for this popular cross going forwar...

Mirroring last week’s shift at the Federal Reserve, the RBA has now shifted its future interest rate expectations into neutral.

One of the first things that new traders to the FX markets learn is that many currencies are correlated with other markets. For instance, the close relationship between oil and the Canadian dollar or certain metals and the Australian dollar are intuitive given the importance of exporting those commodities for the Canadian and Australian economies.

Of all the major currencies, the Australian dollar is perhaps the most sensitive to trends in global trade. The country’s commodity-centric economy and close ties with China mean that any slowdown in international business may be seen Down Under first.

This morning’s US session started much in the same way as some of the previous days this week: with US stock indices opening deeply in the red. After a bounce back yesterday, risk sentiment was hurt by disappointing earnings reports from tech giants Amazon and Alphabet, and by 11:00 ET (15:00 GMT), the widely-watched Dow Jones Industrial Average was...