AUD - Australian Dollar

The AUD fell throughout yesterday’s trading day, almost touching the resistance point of 0.6800 at 0.6795. After a tumultuous last week, the AUD is expected to see further volatility with the release of the RBA monetary policy meeting minutes tomorrow midday.

Released 11 times a year, the minutes are a detailed record of the Reserve Bank Board’s most recent meeting. It will provide in-depth insights into the economic conditions that influenced their decision on where to set interest rates.

The AUD opened at 0.6795 against the USD this morning.

Key Movers

Traders are betting on the Euro to fall through the psychological level of $1.10 this month as the European Central bank prepares a stimulus package amidst the recent global economic downturn. Policy maker Olli Rehn said the package would be “impactful and significant” and would be better for the bank to overshoot than undershoot market expectations.

Furthermore, we can expect to see further short-term volatility as the US-China trade war continues to develop. The temporary license granted to Huawei by the US Commerce department is due to expire today, with expectations that they will extend it another 90 days permitting the Chinese firm to continue to purchase supplies from US companies.

All eyes are on the Economic Policy Symposium, held in Jackson Hole, Wyoming this upcoming Saturday. Attended by central bankers, finance ministers, academics and financial market participants from around the world, Federal Reserve Chair Jerome Powell’s speech is the highlight of the day as they look for signals of further rate cuts.

Expected Ranges

AUD/CAD: 0.8920 - 0.9035 ▼

AUD/EUR: 0.6050 - 0.6150 ▼

GBP/AUD: 1.7795 - 1.8115 ▲

AUD/NZD: 1.0630 - 1.0510 ▲

AUD/USD: 0.6715 - 0.6820 ▼

IMPORTANT: This information has been prepared for distribution over the internet and without taking into account the investment objectives, financial situation and particular needs of any particular person. Oz Forex Foreign Exchange makes no recommendations as to the merits of any financial product referred to in this website, emails or its related websites. Please read our Product Disclosure Statement and our Financial Services Guide.

Regulated in Australia by ASIC (AFS Licence number 226 484)
© 2010 Copyright Oz Forex Foreign Exchange Pty Ltd ABN 65 092-375-703
OzForex Foreign Exchange Services

Member of FOS (Financial Ombudsman Service)
Full Member of AFMA (Australian Financial Markets Association)

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD tumbles below 1.10 amid weak German PMIs

EUR/USD has dropped sharply below 1.10 after German Manufacturing PMI dropped to 41.4 and other figures are disappointed. Fears of a recession are mounting. ECB's Draghi speaks later.

EUR/USD News

GBP/USD trades below 1.25 as markets await a Brexit breakthrough

GBP/USD is trading below 1.25, little changed. PM Johnson has expressed optimism ahead of meetings with EU leaders in New York. The opposition Labour Party's is trying to iron out its position on Brexit. 

GBP/USD News

USD/JPY: Bulls reasurting themselves amid improved trade sentiment

USD/JPY holds firmer starting out the week, as the optimistic sentiment for trade talks remains on track. However, the further upside remains capped by falling Treasury yields-led broad USD weakness.

USD/JPY News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Bakkt to the Future

Today is the day – the release of futures on Bitcoin by ICE – owner among others by the all-powerful NYSE. This initiative, channeled through the trading platform Bakkt, will allow trading futures on Bitcoin with delivery to maturity.

Read more

Gold climbs to over 1-week tops, around $1520 region

Gold edged higher through the early European session on Monday and is currently placed at over one-week tops, around the $1520 region.

Gold News

Forex Majors

Cryptocurrencies

Signatures