Updated Economic Data Table 3 Feb 2009
If you click on the link above you will be able to download the economic data table for today. All eyes were on the RBA interest rate announcement and we saw a cut from 4.25% to 3.25%, pretty much as expected.
EURUSD – Range 1.2810/1.2912 – Tried to regain some ground back above 1.2900 after the RBA rate announcement but soon gave up and settled back to a 1.2840/60 range to welcome in our friends in Europe.
AUDUSD – Range 0.6298/0.6420 – Couldnt manage to take out resistance at 0.6450 despite a bit of a rally from the 0.6350 level where it was sitting just prior to the interest rate announcement.
USDJPY – Range 89.30/89.97 – Average cash earnings fell by slightly less than expected and the BOJ announced it would resume buying Y1 trillion worth of shares in companies that the country’s financial institutions own (rated BBB- or higher) in a bid to provide stability to the banking system. The total amount of the purchases is expected to be Y1 trillion (USD 11.50 Bio and will continue until April 2010 at this stage. The Nikkei rallied on this news only to give up all its gains and then some at the time of writing.
