wrapper

Aussie higher after RBA keeps rates steady

Tuesday, Nov 03 2015
At today's meeting Reserve Bank of Australia held interest rates steady at a record low 2% in what analysts said was likely a close decision. A slim majority of analysts expected the RBA to leave the cash rate unchanged at 2.0% with the market pricing in a 44% chance of a 25 basis points cut.
"At today's meeting the Board judged that the prospects for an improvement in economic conditions had firmed a little over recent months and that leaving the cash rate unchanged was appropriate at this meeting," Governor Glenn Stevens said in a statement.
 
"Members also observed that the outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand." It was also said that the Australian dollar is adjusting to the significant declines in key commodity prices and that business surveys suggest a gradual improvement in conditions over the past year.
 
After the release Aussie was pushed higher and is currently being traded around 0.72 handle. Pair is likely to find support around 0.7150 area and resistance above 0.7230 level. There will be no major data releases in the rest of the session.
Last modified on Tuesday, 03 November 2015
More in this category: « ISM Manufacturing PMI little changed in October UK Construction PMI down in October »

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.