wrapper

Aussie ready to test 0.79 handle

Tuesday, Apr 28 2015
Though there were no major data releases from Australia, Aussie was pushed higher this morning after Reserve Bank Governor Glenn Stevens said “ahead of next week’s meeting of the Reserve Bank Board, I have no comments to offer today on monetary policy.”
 
While his talk was mainly about the financial system he did break away near the end to give a very strong hint that he and his colleagues at the RBA are now viewing the risks to the economy that flow from super low rates. That’s a huge departure from what has always been assumed as the RBA’s standard operating procedure — low rates are good because they put more money in the hands of borrowers.
 
Earlier this morning CB Leading Index figures for Australia were released showing 0.5% increase. Aussie is currently being traded few points above 0.7880 level and seems ready to test 0.79 handle. Pair is likely to find support around 0.7840 area and resistance above 0.7930 level. Later today, in the US session, CB Consumer Confidence figures are scheduled for a release.
More in this category: « CBI Industrial Orders survey showed balance of +1% Euro little changed in a steadier morning part of the session »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.