Forex - AUD/USD climbs to 5-week high on RBA rate decision -6-11
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Forexpros - The Australian dollar rose to a five-week high against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia left interest rates unchanged, while investors eyed the upvoming U.S. Presidential election.
AUD/USD hit 1.0438 during European morning trade, the pair's highest since September 28; the pair subsequently consolidated at 1.0424, climbing 0.57%.
The pair was likely to find support at 1.0365, the session low and resistance at 1.0474, the high of September 28.
The Aussie gained ground after the RBA unexpectedly held the benchmark interest rate at 3.25% earlier in the day. Analysts had expected the central bank to cut rates by 0.25%.
Commenting on the decision, RBA Governor Glenn Stevens said that "with inflation expected to be consistent with the target and growth close to trend, but with a more subdued international outlook than was the case a few months ago, the stance of monetary policy remains appropriate".
The announcement came after industry data showed that house price inflation in Australia rose by 0.3% in the third quarter, less than the expected 1% increase, after a 0.60% rise in the previous quarter.
Meanwhile, investors remained cautious ahead of the start of voting in the U.S. presidential elections, with opinion polls pointing to a tight race between incumbent President Barack Obama and Republican contender Mitt Romney.
The Aussie was also higher against the euro with EUR/AUD dropping 0.71%, to hit 1.2259.
Markets were also jittery ahead of Wednesday’s parliamentary vote in Greece on new austerity measures required for Athens to get its next round of international aid.
On Monday, European Union Commissioner for Economic and Monetary Affairs Olli Rehn said the euro zone was on track to make a decision on unlocking Greece’s next installment of financial aid at a meeting of the bloc’s finance ministers next week.
Hello and welcome in a blog breaking news Alfrux
Breaking news Forex currency market, forex market GMT. Forex traders
Urgent and exclusive news about the trade and the latest news currency and
currency rates, explanations profit of Alfrux, SEC
Breaking forex news
Forexpros - The Australian dollar rose to a five-week high against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia left interest rates unchanged, while investors eyed the upvoming U.S. Presidential election.
AUD/USD hit 1.0438 during European morning trade, the pair's highest since September 28; the pair subsequently consolidated at 1.0424, climbing 0.57%.
The pair was likely to find support at 1.0365, the session low and resistance at 1.0474, the high of September 28.
The Aussie gained ground after the RBA unexpectedly held the benchmark interest rate at 3.25% earlier in the day. Analysts had expected the central bank to cut rates by 0.25%.
Commenting on the decision, RBA Governor Glenn Stevens said that "with inflation expected to be consistent with the target and growth close to trend, but with a more subdued international outlook than was the case a few months ago, the stance of monetary policy remains appropriate".
The announcement came after industry data showed that house price inflation in Australia rose by 0.3% in the third quarter, less than the expected 1% increase, after a 0.60% rise in the previous quarter.
Meanwhile, investors remained cautious ahead of the start of voting in the U.S. presidential elections, with opinion polls pointing to a tight race between incumbent President Barack Obama and Republican contender Mitt Romney.
The Aussie was also higher against the euro with EUR/AUD dropping 0.71%, to hit 1.2259.
Markets were also jittery ahead of Wednesday’s parliamentary vote in Greece on new austerity measures required for Athens to get its next round of international aid.
On Monday, European Union Commissioner for Economic and Monetary Affairs Olli Rehn said the euro zone was on track to make a decision on unlocking Greece’s next installment of financial aid at a meeting of the bloc’s finance ministers next week.
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