
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
2019-11-11 • Updated
On Tuesday, February 6 at 5:30 MT time, the Reserve Bank of Australia will announce interest rates for the first time this year after the break in January. Experts do not expect any changes this time. If we look at statistics, the RBA had not changed interest rates since September 2016.
Despite the fact that the economic growth of Australia is firm and the labor market has improved, inflation data does not give reasons to the RBA to change the interest rates. In the fourth quarter CPI rose less than anticipated by 0.1 percentage points and still it is lower than RBA’s 2-3% target.
The Australian dollar is quite volatile now. On the daily chart AUD/USD, we can see that moving inside the upward trend, Aussie achieved its highest point at 0.8135 since May 2015. After that, it started falling, when received the support at 38.2 Fibonacci retracements and changed its direction again. Although the RBA is not going to raise the interest rates this time, experts expect upbeat comments. It supports the Aussie.
Traders should take into account that Aussie will be volatile on Tuesday because several important figures will be announced. Retail sales and trade balance will be published before interest rates at 2:30 MT time.
Also, on Friday, February 9 at 2:30 MT time, the RBA will give a more detailed economic outlook, delivering Monetary Policy Statement.
Making a conclusion, we can say that although the RBA had not been changing interest rates for a long time, and is not anticipated to do it tomorrow, analysts expect it this year for sure. The growth of the economy and inflation that is supported by the labor market and rising demand for commodities can lead to the increase of interest rates.
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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