AUDUSD: RBA Monetary Policy Decision
At its meeting today, the RBA Board decided to leave the cash rate target unchanged at 4.35% and the interest rate paid on Exchange Settlement balances unchanged at 4.25%.
At its meeting today, the RBA Board decided to leave the cash rate target unchanged at 4.35% and the interest rate paid on Exchange Settlement balances unchanged at 4.25%.
The latest forex news from around the globe.
Global markets experienced a strong rebound in 2023. S&P 500, soared by nearly 25%. Tesla (TSLA) added 101.72%. Bitcoin jumped by 170%
EURUSD has been experiencing volatility in recent weeks, influenced by various factors such as economic data releases, central bank speeches, and market sentiment.
The Bank of Canada today held its target for the overnight rate at 4½%, with the Bank Rate at 4¾% and the deposit rate at 4½%. The Bank is also continuing its policy of quantitative tightening.
Key events in the week ahead include the minutes of the last FOMC meeting as investors see now higher rates for longer after the economic data released the previous week. Markets now see a terminal rate of 5.28%
Here are the US CPI year-over-year estimates that will be released later today:
An interesting week starts with investors focusing on the CPI report, retail sales and industrial production data.
Main events this week include the Bank of Canada interest rate decision, German GfK and Ifo surveys, European S&P Global PMI’s, US PCE Price Index and US Durable Goods Orders
Euro started the week almost unchanged at 1.0831, but there are some events that will affect the price of the common currency. On the macroeconomic data, I expect to see some improvement in German CPI and the Zew surveys.