OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex: AUD/USD retreats from highs, around 1.0232

After peaking above 1.0250, the Aussie dollar is now retreating to the 1.0230/35 region, after better-than-expected domestic results plus the RBA decision to remain on hold have boosted the AUD.

Adrian Foster, analyst at Rabobank, expects the central bank to cut rates at least once more during the present year, with the main target being the strong AUD. “But as better signs internationally spread and the domestic economy shows signs of doing better, especially the housing market, the hurdle to a cut becomes higher and the RBA staying on hold becomes more likely”, concludes Foster.

At the moment, the pair is advancing 0.37% at 1.0234 facing the next hurdle at 1.0250 (MA10d) and then 1.0290 (high Feb.28).
On the downside, a break below 1.0166 (Lower Bollinger) would expose 1.0116 (2013 low Mar.4).

Asian markets correct part of yesterday's losses

China's property market cooling measures scared investors, provoking a selloff in plenty of Asian equity indexes. Today, the market bought the cheaper indexes: China's Shanghai Composite (+2.33%), South Korea's Kospi (+0.17%), Hong Kong's Hang Seng (+0.46%). Chinese Premier Wen Jiabao announced a 7.5% growth target for 2013 at China’s National People’s Congress that kicked off today. Japan's Nikkei Stock Average continues edging higher (+0.27%) on hopes of news from the BoJ.
Read more Previous

Forex: USD/JPY lower at 93.00 area

The USD/JPY is at strength again today, despite Japan's Nikkei gains, and fell throughout the Asian session to reach as low as 92.92. The market pulled the price back to 93.00 ground, but still edging lower by -0.32% on the day.
Read more Next
Start livechat