USD is at two-week low, gold rises
Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
Will the RBA Rate Statement push the AUD?
RBA Rate Statement is on Tuesday at 07:30 MT time.
Instruments to trade: AUD/USD, AUD/NZD, AUD/CHF, EUR/AUD
In March, the interest rate of Australia was reduced to 0.25%. Since then, it was kept steady. The Reserve Bank of Australia informed at that time that there would be no intention to increase the rate until there is full employment, a 2-3% inflation rate, and other indications that the economy is recovering. Since then, although the economy is indeed recovering, the indicators are too far away from warranting the rate change. Hence, we will look at the tone of the RBA press conference to gather details of the outlook for the AUD. If these are positive enough, it may lead to another upswing with AUD/USD.
- If the bank’s tone is hawkish, the AUD will gain value.
- If the bank’s tone is dovish, the AUD will fall.
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Any optimism for the Canadian labor market?
Canadian Employment Rate and Unemployment Change are announced on April 9, at 15:30.
Forex today: gold, AUD/USD, and USD/JPY
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Latest news
S&P ASX 200: one step from a breakthrough
The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
Strong USD is back
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NZD will be driven by RBNZ
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
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