wrapper

Aussie rebounded in an overnight trade

Friday, Apr 08 2016

There were no data releases from Australia this morning with Aussie rebounding in an overnight trade. This week the Reserve Bank of Australia’s governor Glenn Stevens left the nation’s cash rate on hold at 2% stating that the economy was ticking along reasonably thanks to low interest rates supporting demand. The governor also noted regulatory measures constricting home loan lending were moderating growth in the residential housing markets, while overall GDP growth accelerated over 2015 despite the mining slowdown.

Chinese foreign exchange reserves rose by roughly $10 billion in March to $3.21 trillion, the first monthly increase since October, according to central bank data. The modest upward tick indicates that money is no longer flooding out of China at the torrid pace seen in late 2015 and early 2016. Investors had been sending huge sums out of China amid worries over a slowing economy, stock market turmoil and a weakening yuan. The capital outflows increased downward pressure on the yuan, a trend Beijing appeared to counter by using its reserves of foreign currencies to buy yuan.

 

Aussie is currently being traded around 0.7550 area. Pair is likely to find support around 0.75 handle and resistance above 0.7630 level. There will be no major data releases later today.

Last modified on Friday, 08 April 2016
More in this category: « Unemployment Claims decreased to 267,000 UK Industrial Production fell by 0.3% »

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.