Aussie holds weaker ahead of European markets open

Author: Justin Low | Category: News

Dollar mixed as major currencies are rangebound

WCRS 16-04
The aussie is sitting lower on the day after it is revealed in the RBA meeting minutes that the central bank has discussed rate cuts and noted that the likelihood of any rate hike in the near-term would be low. That is keeping AUD/USD pressured near 0.7150 currently ahead of European trading.

Other major currencies are mostly kept in a narrow range as markets are continuing to find its footing on the day. Asian equities are mostly firmer following light gains in Wall Street overnight on mixed earnings. US equity futures are up by 0.1% but Treasury yields are a little lower so that is leaving markets in a bit of a limbo to start the morning in Europe.

The dollar is mixed across the board with less than 0.1% changes against the rest of the major bloc at the moment. Looking ahead, we'll have the UK labour market report to focus on in the session to come but risk will take center stage again as earnings will be a key factor later in the trading day. Of note, Bank of America, BlackRock and Netflix will be reporting today.

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