European pre-market: Aussie leads as RBA stays on hold

Author: Justin Low | Category: News

Dollar trades mixed after a rough start to the week yesterday

WCRS 03-12
ForexLive
The RBA reaffirmed their commitment to keep its cash rate on hold and that saw bonds slump with the aussie getting a lift on the back of higher yields to start the day.

The kiwi is also modestly higher as a result, with markets finding more calm after some jitters from poor US data in overnight trading. Bond yields are holding higher with US futures also settling in slightly more positive territory as we begin the session.

As such, the yen is a little pressured but nothing major as USD/JPY recovers to around 109.10-20 after a move lower yesterday.

Looking ahead, the larger theme of markets continue to hinge on the risk mood as trade talks remain the key factor still.

With little else on the economic data today, we'll have to see where that takes us as market participants will also digest further the implications of the poor US data yesterday on what it may hold in the bigger picture.

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