OctaFX | OctaFX Forex Broker
Open trading account

Forex Flash: Today's Aus data more reason for RBA to stay on hold in April - NAB

After the releases in housing finance and consumer confidence, the NAB notes: "With the first up +2.4% in Jan, with investor approvals up 4.4% and owner-occupied values +1.3%, and first home buyer activity at 8½ year low, this is a good sign for dwelling construction, with finance approvals for new homes rising again."

Regarding consumer confidence, it stood at +2.0% in March, continuing to trend higher. According to NAB, "Should eventually translate into better consumption growth", adding "overall, the data is more reason for the RBA to remain on hold in April."

Forex: AUD/USD still limited below 1.0340 on disappointing domestic data

Following disappointing data today for Aussie, with Westpac consumer sentiment coming out at +2% when previous was +7.7%, and Aus home loans for the month of January down -1.5% when expected was at +0.2% and previous -2.1%, AUD/USD is last near session lows at 1.0316. The pair is still +0.8% higher for the week, off yesterday's fresh 2-week high at 1.0335.
Read more Previous

Forex: GBP/USD prints fresh weekly highs, knocks 1.4950

Being the weakest currency among majors for the week, Pound has finally broke above the 1.4915 level triggering some stops in thin market conditions, last at 1.4948, fresh weekly highs, above previous Monday's highs. Cable has recovered from fresh 2.5-year lows at 1.4930 following poor domestic data in the London morning session, still almost -8% for the year. Key risk event ahead for the day will be US retail sales, at 12:30 GMT given recent time shift.
Read more Next
Start livechat