RBA Leaves Rates Unchanged, Boosting AUD/USD
The RBA left rates unchanged at 4.75%. The Bank said that lending rates are above average and that current policy is appropriate for the economic outlook. The statement is supportive of no change in rates through early next year, although consistent with Governor Stevens’ view in his November 26 testimony that is not unreasonable for [...]
Australian Dollar Breaking Out
The Australian dollar is bucking up against trend line resistance after making a run from a low near 80 cents against the US dollar, to touch a intra-day high near 93.60 cents vs. the dollar on Monday. There are a number of factors that would lead one to believe there are higher prices in store. [...]
Aussie slides on unchanged interest rates
The Australian Dollar slid today in forex trading on account of the Australian central bank deciding to maintain the benchmark interest rates at their current levels. The RBA avoided changing interest rates to maintain economic recovery in the country. The Australian dollar fell to the lowest level in nearly 6 weeks, against all 16 of [...]
Aussie falls with softer Gold and strong Greenback
The Aussie appears to be facing stiff upward resistance today as it fell badly today, primarily on account of a softer gold market, and buying in the US Dollar and the Euro. During the Asian currency market session, the Australian Dollar had fallen to the .8924 level, after having made a weekly high of .8992 [...]
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