• AUD/USD firming up as Dollar slides and takes up as the weakest currency on the board. 
  • RBA is in a position to cut rates, its just a question of timing. 

AUD/USD is currently trading at 0.6866, pretty much flat on the day having travelled between 0.6830 and 0.6869, +0.03% while the dollar has now taken over the weakest slot of the majors in trading for the day. Markets are in a state of flux and we are seeing that reflected in the price action in the spot FX space. There is no consistency in trend one way or the other - even USD/NOK  and USD/CAD struggle to make a run of it to the downside as the price of WTI sinks back below 60 the figure. We are waiting to hear a statement from the Saudi oil minister, expected any time soon. 

RBA getting set for a rate cut

Meanwhile, the minutes of the Reserve Bank Board’s September meeting contained very little new for markets to go on but did come across a touch more dovish than expected which weighed on the Aussie - Indeed, it sounds as though the central bank is getting closer to its next move on policy. The minutes warned, “developments in the international and domestic economies, including the labour market” will be assessed to see whether a further easing of policy is “needed”, Westpac explained said. The analysts said they continue to predict cuts in the cash rate of 25 basis points in both October and February next year.

Analysts at TD Securities, however, argued that the RBA would be clearly disappointed that following 2 rate cuts and tax cuts, we have not seen more signs of green shoots. "We stick to our Nov call for the RBA to cut but if we get a poor jobs print on Thurs, then a move next month should be more a 50/50 proposition, not ~30% as it is currently. The fact that the RBA removed 'the accumulation of additional evidence' suggests the bar to cutting may have been lowered."

AUD/USD levels

AUD/USD

Overview
Today last price 0.6867
Today Daily Change 0.0003
Today Daily Change % 0.04
Today daily open 0.6864
 
Trends
Daily SMA20 0.6796
Daily SMA50 0.6851
Daily SMA100 0.6902
Daily SMA200 0.7012
Levels
Previous Daily High 0.6885
Previous Daily Low 0.6853
Previous Weekly High 0.6895
Previous Weekly Low 0.6837
Previous Monthly High 0.6869
Previous Monthly Low 0.6676
Daily Fibonacci 38.2% 0.6873
Daily Fibonacci 61.8% 0.6865
Daily Pivot Point S1 0.685
Daily Pivot Point S2 0.6835
Daily Pivot Point S3 0.6818
Daily Pivot Point R1 0.6882
Daily Pivot Point R2 0.6899
Daily Pivot Point R3 0.6914

 

 

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD consolidates around 1.1150 amid mixed trade headlines

EUR/USD is trading around 1.1150, consolidating previous gains. President Trump has expressed optimism about clinching a deal with China, while some officials have cast doubts. Brexit headlines are set to impact the euro as well.

EUR/USD News

GBP/USD edges higher ahead of critical vote on the Brexit deal

GBP/USD is rising above 1.2950 as parliament is set to debate and vote on UK PM Johnson's Brexit deal. The vote on the program to complete the process quickly is also critical. 

GBP/USD News

USD/JPY holds steady above mid-108.00s

The USD/JPY pair failed to capitalize on the early uptick to multi-day tops and is currently placed at the lower end of its daily trading range, just above mid-108.00s.

USD/JPY News

Gold edges up to $1490 area, lacks follow-through

Gold edged higher through the early European session on Tuesday and is currently placed at the top end of its daily trading range, around the $1489 region.

Gold News

Top 3 price prediction BTC, ETH, XRP: CFTC takes a surprisingly bold step to move cryptos forward

The CFTC is open to Ethereum futures without anyone picking-up the ball. XRP is currently the only bullish option currently in the Top Three. Current volatility levels have last been seen in May.

Read more

Forex MAJORS

Cryptocurrencies

Signatures