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Forex: Euro Rebounds to 1.1220. AUD Firm; RBA Rate Unchanged.

Posted by Chris Advincula on Oct 6, 2015 7:43:00 AM

EURUSD - The euro rebounds on short-covering to 1.1220 as the US dollar declines in a narrow 45 pip range in Europe. Short-date interest rate differential slight widening created euro demand

GBPUSD - Some risk appetite returns for sterling as the US dollar eased on fading prospects of the Fed on raising interest rates this year following the lower than expected jobs data. Sterling bounce to 1.5180 on 40% retracement. Daily Tenkan resistance at 1.5195.

USDJPY - Yen buying interest took place in early Europe and USDJPY rate fell from 120.50 to 120.12 low on Japan Finance Minister comments: Welcomes TPP deal. says BOJ won't intervene in policy making on low CPI and crude oil price, making it hard to achieve inflation target.

AUDUSD - Aussie rallies to 0.7134 from 0.7080 (+54 pips) following RBA decision to leave key interest rate unchaged at 2.00%. The RBA statement: Policy is appropriate. AUD is adjusting to lower commodity prices, policy needs to remain accommodative, economy with spare capacity for some time, inflation is consistent with target in the next 1-2 years.

 

Charts.10.6 resized 600 

Charts: WorldWideMarkets Alpha Trader

Topics: $USDJPY, RBA, GBPUSD, EURUSD, AUDUSD, Fed, forex trading, European Session, Fundamental Analysis, BOJ

 

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