A preview of the Reserve Bank of Australia monetary policy meeting Tuesday 2 October The RBA is welded to a no change decision in rates for the foreseeable future, with most expecting rates unchanged for many, many months to come.
Italian year yields were up 15 bps to 3. Any charts, technical analysis, trade ideas, thoughts, views, ForexLive traders would like to share and discuss with fellow ForexLive traders, please do so:.
The RBA is welded to a no change decision in rates for the foreseeable future, with most expecting rates unchanged for many, many months to come.
There have been a few developments in the domestic economy that may well be reflected in the Statement from Governor Lowe:. Having said all this, for AUD traders I expect the Statement will wash over without too much immediate impact. Unlikely to move the AUD much either, an on hold decision is expected. There is no shortage of love for US stocks. Seasonals are disliked because they really shouldn't work. But they do and my belief is that it's always better to know the story rather than be left in the dark.
It's just one piece of the big picture but it's something to put into the equation. Here are some highlights for October, based on the past decade. Oil has broken out to the best levels in four years. With Iran production getting squeezed due to India, Japan and South Korea cancelling purchases, there is a catalyst for more gains.
On the downside, the IMF is warning about global growth and the seasonals aren't great through year end. Combined, that's a very powerful negative signal. Naturally, there are some oversold short-term conditions but that's exactly what you would expect after a NAFTA deal. I don't think that support is going to stand in the way of this pair as it gathers momentum to the downside.
The Canadian, New Zealand and Australian dollars have edged higher after a surprisingly quiet start to the week, perhaps owing to flows at the start of the month. Oil is up 2. Copper is down 0. The pair is down pips to 1. The commodity currencies and commodities aren't in fashion at the moment.
Certainly there are some housing worries holding them all back. That said, there are reasons to like them all. Canada and the US haven't intervened in ages while Mexico occasionally intervened fairly lightly during the financial crisis and the tequila crisis. That's not likely to be used but it may serve as a model for what Trump is trying to do elsewhere.
There is so much talk about FX intervention but it's a far smaller roll than many believe. It's much easier to manipulate monetary policy to weaken your currency. The plan is clear at this point -- keep on hiking until they see a reason not to. It would be crazy to end the euro over Italy going 0. Trudeau is saying that he's gained significant protections from hypothetical US auto tariffs but he didn't get steel and aluminum tariffs removed, which is puzzling.
It looks like Canada is going to have to put in some quotas or more-stringent trans shipping provisions in order to get them lifted. Sounds like he's expecting at least hikes. If you want a United States of Europe, you had better get on with the task of generating growth throughout Europe. Right now, if you were to give people in the eurozone a vote, they wouldn't be voting for a union.
The nowcast of third-quarter real personal consumption expenditures growth increased from 3. The nowcast of the contribution of inventory investment to third-quarter real GDP growth increased from 1. The event was closed to the press but the NY Fed posted the text on its website. Title text for next article. Join our Telegram group. Get the ForexLive Newsletter. Mon 1 Oct View Full Article with Comments. Asset 24 View More. Theresa May continues to face an impossible task.
UK Times front page: May agrees curbs on trade to break Brexit deadlock PM May is preparing to limit Britain's ability to agree free trade deals after Brexit A concession to the EU with the aim at breaking the deadlock in talks May said to propose a 'grand bargain" to keep the UK in the EU customs union on goods after the end of the transition period in December of This from a front page Times story.
What this means is that the UK would extend its stay in the customs union but have its ability to reach trade agreement with other countries restricted for years after More on the UK Times Brexit report, post is here: NZD a little lower after poor business confidence data An update on the New Zealand business survey showing the weakest business confidence for nine years Post is here:.
NZD a little lower after poor business confidence data https: An update on the New Zealand business survey showing the weakest business confidence for nine years Post is here: May agrees curbs on trade to break Brexit deadlock https: He wants it bad. BJ is lobbying to become the Prime Minister. RBA meeting today - preview - expected on hold decision The Reserve Bank of Australia October monetary policy decision and Statement is today Announcement will come at GMT There will be no change to the cash rate Governor Lowe will issue his 'accompanying statement' as usual, at the same time There is no press conference there never is but sometimes i get asked, so just noting it Based on recent experience recency bias!
Unless there is some surprise of course. The RBA will hold rates unchanged at their October meeting, as they have since they last cut rates in August Economic growth over the past year was above trend, at 3. We expect the RBA cash rate to remain unchanged at 1. Click Next in the installation dialog box. Read the license agreement, select the check box I accept the agreement and click Next to proceed. Indicate directory where you previously installed MetaTrader 4.
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Click Finish when installation is complete. MT4 has been successfully installed on your computer. New Zealand Dollar vs Singapore Dollar.
Great Britain Pound vs Australian Dollar. Great Britain Pound vs Singapore Dollar. Great Britain Pound vs Canadian Dollar. Australian Dollar vs New Zealand Dollar. New Zealand Dollar vs Canadian Dollar.
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