wrapper

Aussie higher in an uneventful morning part of the session

Wednesday, Apr 08 2015
There were no data releases from Australia this morning. Traders are still weighing in recent RBA rate decision. After Aussie initially went all the way to 0.77 it practically lost all of its gains indicating general weakness in the pair, however, further fall in exchange rate is something that RBA is hoping for since this should help economic recovery, if it is to believe to Tuesday's statement. Though, RBA left interest rates unchanged it did not exclude possibility of further reduction in the following meetings.
 
China’s one-year interest-rate swap fell to a two-month low as the central bank cut the interest rate on reverse-repurchase agreements used to add funds. The People’s Bank of China sold 20 billion yuan ($3.2 billion) of seven-day reverse repos at 3.45% Tuesday, according to a statement on its website, down from 3.55% at a similar auction last week. That’s the fourth cut since the start of March, each time by 10 basis points, after benchmark interest rates were reduced by 25 basis points in February.
 
Pair is currently being traded around 0.7670 area. Pair is likely to find support around 0.76 handle and resistance above 0.770 level. Later today, in the US session, FOMC Meeting Minutes are scheduled for a release.
Last modified on Wednesday, 08 April 2015
More in this category: « 5.1 million job openings in February USD - Major events in the week ahead »

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.