The Australian Dollar is the notable outperformer as the RBA prepares market participants for higher interest rates. Get your market update from JMcQueenFX here:
The Australian Dollar is the notable outperformer as the RBA prepares market participants for higher interest rates. While monetary policy was left unchanged with the cash rate target at 0.1%, as expected. The key shift stemmed from the change in forward guidance in which the RBA dropped the statement that they will remain “patient”. In turn, the Aussie rates market has repriced higher and by extension AUD has vaulted through key resistance at 0.7550 to break above 0.7600.
That said, with the RBA stating that they will assess incoming data “over coming months”, this suggests that June is a live meeting as opposed to May. Additionally, with the RBA also awaiting to see a pick up in wage growth in order to see evidence that inflation is sustainably within its target range, this further endorses the view that May is too soon for the RBA to act. Of note, the Australian wage price index for Q1 will not be released until two weeks after the May policy decision.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Forbes 2022 Next Billion-Dollar Startups List: Nominations Are OpenWith this year’s Forbes Next Billion-Dollar Startups list, we’re looking for companies like alumni DoorDash, Benchling and Alchemy in their nascent days.
Read more »
EUR/USD Latest: The Euro vs. US Dollar Battle ContinuesThe Euro continues to trade on either side of 1.1000 against the US dollar despite a further rise in short-dated US Treasury yields. Get your market update from nickcawley1 here:
Read more »
US Dollar and Emerging Market Currencies Eyeing FOMC Minutes this WeekThe US Dollar stabilized against Emerging Market currencies last week. Ahead, investors will be tuning in for FOMC minutes. Will balance sheet normalization boost USD? Get your market update from ddubrovskyFX here:
Read more »
Canada to support GM multi-billion-dollar investments in two plantsCanada on Monday will announce its support for General Motors Co's multi-billion-dollar investment in two plants, including one that will produce electric commercial vehicles (EVs), a government source said.
Read more »
US Dollar Index adds to the uptrend around 98.60The greenback, in terms of the US Dollar Index (DXY), adds to the recent gains and retests the 98.65/70 band at the beginning of the week. US Dollar I
Read more »
Million Dollar Pixels: Diving into NFT Decentralization, Copyright, and Minting | HackerNoonHow do NFTs work? How decentralized are NFTs? In this article we explore the decentralization of NFTs with a demo using IPFS, Alchemy, and Filebase.
Read more »