The start of November has been a dwindling moment for the general major currency market. As essential economic updates flood the surface of the entire foreign exchange market, in which most of the currency pairs especially the major pairs were greatly affected by the impact of the economic releases. However, the US dollar was discovered to have held the main currency exchange performance metrics as the central economic updates from the US region tend to have determined the significant changes that have occurred in the major currency market so far.
The dollar hovered below recent highs on Tuesday as traders waited for the Reserve Bank of Australia to lead a handful of central bank meetings set to define the rates outlook this week.
US DOLLAR, JAPAN ELECTION, USD/JPY, CHINA PMI, AUD/USD - TALKING POINTS
The Australian Dollar is up more than 2.6% on the back of a five-day rally with price eyeing initial resistance. These are the levels that matter on the AUD/USD charts.
Australian Dollar watchers should keep a close eye on iron ore prices. They fell sharply last month, albeit from very high levels
The Australian Dollar will likely be in focus to kick off the trading week as forex traders turn to the September RBA meeting for clues on where the Aussie might head next.
The US Dollar shrugged off news that the Treasury Department is holding off on USD intervention “for now”. Ahead, downside AUD/USD progress may be impeded by local private Capex data.
The September RBA meeting is now 1-week away which sets AUDUSD and AUDJPY back in the spotlight. Where might the Australian Dollar head next?
GBP/USD Dips, EUR/USD Eyes Italian Politics, AUD/USD Bounces on RBA - US Market Open
The Australian Dollar market already looks hunkered down for central bankings heavyweights at Jackson Hole later this week. The latest set of RBA minutes were probably always going to struggle for attention.
Regional trade was short of an overarching theme as the week bowed out, but the Treasury market and next weeks Jackson Hole meeting were much in mind.
The Austrailan Dollar spiked upward Thursday as overall new job gains were revealed to have been 41,000 in July, well ahead of the 14,000 markets had expected.
Risk aversion may be ahead after Tesla earnings disappointed, North Korea reportedly launched two projectiles. The AUD/USD downtrend eyes RBA Governor speech for rate cut signals.
The Australian Dollar has gained despite big cuts to domestic borrowing costs as investors find other reasons to go long.
The Australian Dollar market didnt find much to love or hate in the latest RBA policy meeting account. The jobs market remains crucial to further action.
The Reserve Bank of Australia has cut interest rates aggressively even as it has wondered about the effectiveness of such a move.
GBPUSD eyes downtrend resumption as Bank of England Governor Mark Carney fuels rate cut expectations. Meanwhile, IG Client sentiment offers a stronger AUDUSD-bullish trading bias.
The Australian Dollar got a lift after the RBA Governor pointed to some of the difficulties apparent in a world where everyone is lowering interest rates
The Pound Sterling outlook turned more bearish after GBPUSD cleared support as the Dollar gained and the Euro weakened. AUDUSD may rise if the RBA downplays near-term rate cut bets.
Growing demand for liquidity amid risk aversion may pull EURUSD lower even if US data underperforms and tilts the Fed to a more dovish disposition. GBP eyeing BoEs Mark Carney.