The Australian dollar was in the spotlight of the foreign exchange market on Tuesday morning, after the RBA decided to lower the base interest rate. The Australian regulator reduced the rate by 25 basis points to 1%, which had a positive effect on the national currency rate. Recall that the Reserve Bank of Australia lowered the rate for the second month in a row. The decision on a new rate cut was taken to bring the inflation rate to the target level. RBA announced that it will continue to monitor the state of the labor market and, if...
The Trump-Xi summit produced a temporary tariff truce which provided a short-term boost to sentiment, but for forex traders it is back to business as usual. The Bank of Japan injected more liquidity into the market and the Reserve Bank of Australia cut interest rates by 25 basis points to 1.00%. The Australian Dollar advanced slightly, helped by a rise in consumer sentiment. Gold prices ended their correction after dipping below $1,400, where a new support level is forming. Will bulls be able to charge once again or will bears get encouraging...
The Euro has performed better than expected over the past trading sessions and forex traders will pay close attention to this morning’s PMI data out of the Eurozone. Economists anticipate the data to show overall weakness across the continent which could trigger a sell-off in the Euro to start the new trading month. Unemployment data out of Germany, Italy and the Eurozone could also add further volatility and allow the EURGBP to extend its sell-off which is currently in its second day. Do your forex trading strategies deliver consistent...
Following the meeting between US President Trump and Chinese President Xi this weekend, both leaders agreed to a truce and more trade talks. Forex traders had little time to digest the announcement as Chinese PMI data came in weaker than expected as the global economic slowdown continues. This was further confirmed by Australian Manufacturing PMI data which came in mixed. The AUDJPY paused its rally, but will this be temporary before the advance extends with a breakout or are bears preparing for a price action reversal? Today’s fundamental...
As the G-20 meeting draws closer, investors generally prefer a wait-and-see attitude. However, during the Asian session, the attention of traders focused on Japanese statistics on the ratio of jobs and the number of unemployment applications for the past month, as well as data on industrial production and inflation rates for June. In Australia, data on private sector loans in May gave the Australian dollar the direction for further movement. Ultimately, however, the statistics released had a subdued effect on the Asian currencies. The G20...
