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The Reserve Bank of Australia stuns financial markets by keeping its benchmark interest rate steady at 3.75 per cent, defying forecasts of a fourth consecutive 25 basis point increase
Continue Reading →The RBA stunned the market by holding their cash rate steady at 3.75% and not hiking another 25bp, as was widely expected (roughly 80%). The AUD immediately collapsed, as traders anticipated eroding yield spread. The AUDUSD shed nearly one and a half big figures, trading from 0.8927 to 0.8780. However, the RBA’s accompanying statement clearly [...]
Continue Reading →G10 Advancers and Decliners vs USD EUR 0.20 JPY 0.10 CHF 0.08 GBP 0.06 Risk appetite saw a brief resurgence in early Asian trading, as global PMI data posted better than expected readings. However, everything changed when the RBA surprised the market by keeping rates unchanged at 3.75%. This caused risk to rapidly sell off, [...]
Continue Reading →A rare central bank shocker overnight as the RBA left rates untouched rather than hiking by 25 bps to 4.00% Market trying to decided whether it prefers to look through this or take Aussie to new…
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