The Aussie dollar jumped in the Asian trading on Tuesday after the Reserve Bank of Australia’s surprise 25bps rate cut to cushion the economic blow from the virus spread. As a result, the market saw a slight recovery on global stocks in anticipation of additional measures from the governments and central bankers to counter coronavirus. RBA’s rate cut seems like confirmatory rhetoric from Japan PM Abe’s call to keep the hope of G7 support alive.

Coronavirus keeps spreading outside China at a faster rate. The outbreak took four lives in the US already. Numbers of fatalities in Iran and South Korea are also bothering the markets. With this, the G7 financial leaders will be joining a conference call at 1200 GMT today, with the economic fallout from pandemic coronavirus as the key agenda. This will be led by Fed Chairman Powell and investors will keep updated on the discussions for immediate direction.

On the data front, the focus will remain on the Eurozone CPI, UK Construction PMI, EU-UK post-Brexit trade talks and agreements, and the NZD GDT’s Price Index.

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


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. The Bullfx (thebullfx), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.

Post categories

 

Symbol Bid Ask Spread
EURUSD 1.18575 1.18604 2.9
GBPUSD 1.37965 1.38094 12.9
USDCAD 1.24644 1.24754 11
USDJPY 110.148 110.338 19
USDCHF 0.92186 0.92374 18.8
AUDUSD 0.74809 0.74893 8.4
NZDUSD 0.69330 0.69453 12.3
EURGBP 0.85871 0.85938 6.7
EURCHF 1.09350 1.09549 19.9
EURJPY 130.641 130.825 18.4
AUDJPY 82.429 82.616 18.7
GBPJPY 152.012 152.335 32.3
USDSGD 1.34361 1.34702 34.1
XAUUSD 1763.57 1763.89 32
XAGUSD 25.796 25.828 3.2

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

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