Aussie Sell-off on RBA’s Rate Cut

 

Amid broad-based US dollar strength, Asian trading has been active due to major economic events. The Aussie went through ups and downs before setting to fresh lows after the Reserve Bank of Australia cut the monetary rate by 25 bps as expected. RBA reiterated that an extended period of low interest rates will be required and repeated that a ‘gentle turning point has been reached.’ RBA Governor Lowe’s speech later today will add some more clarity to the situation.

The Euro has been consolidating on low grounds while focusing on the release of the Eurozone inflation data for September. It could regain some strength of the core inflation beats estimates. The pound had modest gains on news that the UK PM Johnson is expected to reveal secrets of his Brexit plan. The US Manufacturing PMIs are also due today.

NOTE: Traders are advised to be cautious and be updated on the major economic news causing high volatility to achieve better trading results.


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Post categories

 

Symbol Bid Ask Spread
EURUSD 1.11195 1.11212 1.7
GBPUSD 1.29361 1.29389 2.8
USDCAD 1.31619 1.31638 1.9
USDJPY 108.782 108.800 1.8
USDCHF 0.99289 0.99310 2.1
AUDUSD 0.68255 0.68274 1.9
NZDUSD 0.63297 0.63320 2.3
EURGBP 0.85945 0.85966 2.1
EURCHF 1.10417 1.10437 2
EURJPY 120.974 120.991 1.7
AUDJPY 74.256 74.276 2
GBPJPY 140.737 140.767 3
USDSGD 1.36451 1.36472 2.1
XAUUSD 1485.48 1485.75 27
XAGUSD 17.415 17.442 2.7

The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed.

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