Breaking: AUD/USD jumps to 0.6765 on expected RBA rate cut by 25 bps to 0.75%


The Reserve Bank of Australia (RBA), at its October monetary policy meeting held on Tuesday, cut its official cash rate (OCR)  by 25bps at a record low of 0.75%, as widely expected.

According to the latest Reuters poll, “as many as 25 of 35 economists, or 71% of those surveyed, expect the Reserve Bank of Australia (RBA) to ease its benchmark rate at its Oct. 1 meeting.”

The decision was on expected lines but did help the Australian Dollar, with the AUD/USD pair extending the recovery above the 0.6750 from four-week lows of 0.6733.

About RBA Rate Decision

RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD depressed ahead of ECB’s decision

Despite the broad dollar’s weakness, the EUR/USD pair remained subdued, amid a cautious stance ahead of the ECB’s announcement. Trump threat to impose tariffs on EU cars also weighed.

EUR/USD News

AUD/USD keeps falling ahead of critical data

Australia will release Consumer Inflation Expectations and monthly employment data, both relevant for the RBA. Numbers could be a game-changer for the central bank.

AUD/USD News

Australian employment Preview: Upbeat numbers could temper rate cut expectations

Australia will release this Thursday its  December employment data. The economy is expected to have added 15.0K new jobs in the month, following a 39.9K increase in November. 

Read more

Gold Price Analysis: Intraday uptick falters near 50-hour SMA, remains vulnerable

Gold lacked any firm directional bias and seesawed between tepid gains/minor losses through the mid-European session on Wednesday.

Gold News

USD/JPY rises above 110.00, potential head-and-shoulders on 1H

Risk reset in stocks is boding well for USD/JPY.  The pair may be forming a head-and-shoulders pattern on the hourly chart. The bulls are not out of the woods yet and a break above 110.12 is needed to invalidate lower highs setup on the hourly chart.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures