Stronger Dollar, markets weaken
|Important news for the day
Tue, 04th, 04:30 CET AU Interest rate decision.
Tue, 04th, 22:45 CET NZ Employment change.
AUD weakness
Today’s interest rate decision from Australia did not offer a change. Instead, the RBA left rates unchanged at 3.60%. Rising consumer prices caused the bank not to act and the AUD subsequently continued to lose momentum. Usually, this might have caused the Aussi to strengthen, whereas the negative sentiment in markets caused the opposite. The correction in stock markets might also be a reason for the selloff, which usually reflects the AUD to weaken as well. The strengthening of the Dolllar also helps the moves to intensify.
Market talk
The Dollar continues to strengthen and might hence cause a negative risk sentiment. Equities seem to weaken further as a result and also precious metals move to the downside slightly. Oil prices also weaken off the negative trendline and might signal some trouble ahead as well. The USDCAD currency pair looks set to break higher after the 50- moving average has been defended based on the weekly chart. The negative risk sentiment also causes the crypto market to push lower.
Tendencies in the markets
- Equities weaker, USD stronger, crypto weaker, oil weaker, Silver sideways, Gold sideways.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.