OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: AUD/USD approaching lower limit of consolidation range - DBS Group

FXstreet.com (Barcelona) - DBS Group analysts note that the Australian dollar is approaching the lower limit of its consolidation range established mostly between 1.0150 and 1.0600 since mid-2012.

They note that like the ECB, the Reserve Bank of Australia (RBA) has cut its cash target rate to a new record low below the present 3.00%. They write, “While consensus didn´t expect a rate cut at the RBA meeting, close attention was also paid to the RBA statement. Apart from its outlook on China and Asia, there will particular interest on its assessment regarding any fiscal drag on the Australian economy. PM Julia Gillard recently reported that an AUD12 bn shortfall in the budget. To safeguard the country’s triple-A debt rating, Gillard ruled out more government spending ahead of the September federal elections. The Treasury is scheduled to announce its Federal Budget next week.”

Forex: EUR/JPY jumps to 130.00 area on German data

The EUR/JPY jumped on the release of German factory orders as the indicator didn’t follow the course of market consensus and grew by 2.2% in March, instead of contracting -0.5% as expected. February data was revised slightly lower from 2.3% to 2.2%. The EUR/JPY is back at its highs, trying to tackle the 130.00 handle and return to May and April highs at 130.41 and 131.13, respectively.
Read more Previous

Forex: EUR/GBP storms to 0.8450 on surprising German factory orders

With the 0.8415 area holding the cross against the downside, the EUR/GBP stormed off to the upside as March German factory orders contradicted the latest gloomy surveys. Investors are cheering with the surprising 2.2%, instead of the -0.5% contraction as expected. February data was revised slightly lower from 2.3% to 2.2%. German factory orders in year-on-year basis dropped further, from -0.2% (revised from 0.0%) to -0.4%, but that came in better than the -2.9% expected.
Read more Next
Start livechat