Australian GDP Data - Better Than Expected

Posted: September 5, 2018 11:04:57

Forex News

Australian GDP data comes out better than expected:

0.9% (Actual) vs 0.7% (Previous) vs 1.1% (Previous)

Markets Subdued With Non-Farm Payrolls Looming

Posted: September 5, 2018 10:30:06

The Forex markets, so far this week, have remained relatively flat with a combination of US & Canadian Bank Holidays on Monday and, with Friday being the first Friday in September, Non-Farm Payrolls coming up at the end of the week.

Currency Strengths across the board remain relatively neutral (not uncommon in Non-Farm payrolls week) and directional moves may be few and far between before Friday. With many traders coming back from August holidays, appetitie for risk this week seems diminished amongst Forex traders.

A Canadian Interest Rate Decision today at 3pm GMT may provide some opportunities in what has otherwise been a slow week forthe Forex markets.

With conditions slow, it's good to remember, money saved is money earned.

 

Canadian Interest Rate Decision

Today

3pm GMT

Rates expected to remain unchanged

 

Canadian Employment Data

Friday

1:30pm GMT

 

US Non-Farm Payrolls

Friday

1:30pm GMT

 

RBA Keeps Rates Unchanged

Posted: September 4, 2018 08:29:53

The fundamental outlook on the Australian Dollar remains Bearish as the RBA reassert their Monetary Policy stance today.

In summary they stated that "The low level of interest rates is continuing to support the Australian economy." and as a result the outlook for Forex trades remians fundamentally bearish on the Australian Dollar.

 

A full report of the RBA announcement can be found below:

https://www.rba.gov.au/media-releases/2018/mr-18-21.html

 

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Posted: August 8, 2018 05:46:27

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