Reserve Bank of Australia (RBA)

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The Reserve Bank of Australia (RBA) left the interest rate on hold at 2.5% ahead of the government elections on the 7th September. The Aussie dollar has weakened significantly recently as traders have tried to front run the tapering of bond purchases by the US Federal Reserve. Governor Stevens highlighted the depreciation of over 15% for the AUD since April, but reiterates the currency remains high. The majority of analysts and economists had tipped the central bank to leave rates unchanged…

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Trading through the European and US session on Monday was very quiet as there were public holidays in the US and UK, leading to limited volatility and lower trade volumes. The majority of FX crosses traded in relatively tight ranges with limited macro data to give direction. The Aussie dollar has weakened against the Greenback over the last 6 weeks; analysts have been vocal for a prolonged period that the Aussie has been overvalued. The AUD strength has been fuelled by the commodities…

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Bank of England chews over negative interest rate plan - CityAM Sterling has steady following its recent rapid decline, though the cable is currently unable to break the psychological 1.50 level The unemployment rate has remained steady at 5.4 per cent in February as the Australian economy added 71,500 jobs, the biggest monthly gain in 12 years -SMH Bank of England's Bailey warns that UK banks need more capital, this idea is controversial as some believe higher capital…

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Morning Market Headlines RBA cut rates as expected by 25bps to 3.0%, to “foster sustainable growth” High frequency trades improve markets, Bank of England experts argue, by assisting price discovery - CityAM Ex-Goldman trader (current with Morgan Stanley) is probed by SEC over market manipulation – Reuters UK is facing a lost decade for growth – CityAM Feds Bullard favours US$25bn of QE which provided the same impact as US$45bn via Twist…

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