ForexLive Asia FX news wrap: AUD lower following RBA Minutes

Author: Eamonn Sheridan | Category: News

ForexLive Asia FX news wrap: AUD lower following RBA Minutes

Forex news for Asia trading Tuesday 16 April 2019 

The Australian dollar was the big mover during the session, dropping a third of cent upon the dovish RBA minutes. The central bank says it cannot see a scenario that the likelihood of a rate hike was low, that it is watching inflation and unemployment as triggers for a rate cut, and that despite rates being low a further reduction would be of assistance for the economy. More detail in the bullets above but those are the salient points.

Since its fall the AUD has barely bounced, its under 0.7150 as I update.

ForexLive Asia FX news wrap: AUD chart lower following RBA Minutes

EUR and GBP fell alongside as did the kiwi. CAD lost further ground after its drop during the US session. RBNZ Governor Orr gave an interview to Reuters, in which he described the NZ dollar as being around a 'happy place'. I guess that means he is comfortable with its current level. Again, see bullets above for further.

In addition to the RBA and RBNZ we also got comments from Fed Boston head Rosengren and also BOJ Governor Kuroda. Despite Kuroda talking on and on USD/JPY has barely moved on the session. 

Gold is off a little.

Still to come:

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