OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: Westpac Aus consumer confidence exceeds expectations - NAB

Today, Westpac consumer confidence in Australia “revealed what could only be described as a consumer that is starting to see some blue sky,” said Senior Economist Markets at the NAB, David de Garis, noting “Consumer sentiment rose a sturdy 7.7% in February to an index level of 108.3, a level that is now above its long term average and clinically consistent with good levels of consumer spending.”

According to David, this “Buys more time for RBA to remain on hold in March unless upcoming key quarterly reports amplify downside real economy risks,” despite the “Economy not out of the woods;” the economist adds, suggesting: “more cuts will still be needed to support non-mining economy ahead; 75bps of cumulative cuts still our call for this year,” he concludes.

Forex: USD/JPY break of 93.00 allows further losses

The Yen is strengthening across the G10 board, with the steady bids allowing the Japanese currency to break above yesterday's high vs the Euro and the US Dollar.
Read more Previous

Session Recap: Yen fortitude stays; Aussie longs re-emerge

Against the backdrop of G7 headlines, in which one would assume that international players are still distant from sounding too threatening on the new mix of policies in Japan to beat deflation and as a by-product weakening its currency, the Yen has persevered with its fortitude through the Asian session, topping the climbers of the G10 board.
Read more Next
Start livechat