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2013-09-03 04:38 GMT
RBA keeps rate at 2.5%, easing bias removal?
The Reserve Bank of Australia left rates unchanged at 2.5% record lows, with the Monetary Policy Statement offering some interesting clues, saying "the Board will continue to assess the outlook and adjust policy as needed", omitting a more aggressive narrative seen in last few months.
While the door to reduce rates further is not closed, the statement sounds not as dovish as one may have expected, yet the value of the Australian Dollar and domestic indicators will continue to determine the future rate setting. For now, looks like AUD bulls will gain Sept battle.
The AUD/USD was initially supported by the risk-seeking atmosphere to a 0.9014 high, faded a little then and then steadied around 0.8980-0.8990, before the RBA minutes. The RBA left unchanged the rates at the historical low level of 2.5% and the pair skyrocketed to 0.9030 area, gaining more than 50 pips in a couple of minutes. The RBA although less dovish than expected, mentioned that ‘"the Board will continue to assess the outlook and adjust policy as needed" and that “In Australia, the economy has been growing a bit below trend over the past year. This is expected to continue in the near term as the economy adjusts to lower levels of mining investment. The unemployment rate has edged higher. Inflation has been consistent with the medium-term target. With growth in labor costs moderating, this is expected to remain the case over the next one to two years, even with the effects of the recent depreciation of the exchange rate.-FXstreet.com
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2013-09-03 08:30 GMT
UK PMI Construction (Aug)
2013-09-03 09:00 GMT
EMU Producer Price Index (YoY) (Jul)
2013-09-03 12:58 GMT
US Markit Manufacturing PMI (Aug)
2013-09-03 14:00 GMT
US ISM Manufacturing PMI (Aug)
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2013-09-03 05:38 GMT
GBP/USD drifting higher for a 3rd session after rough 2 weeks; 1.5587 key hurdle
2013-09-03 05:07 GMT
AUD/USD spikes above 0.9000 after RBA
2013-09-03 04:19 GMT
EUR/USD extends choppy range; remains at 30-day lows
2013-09-03 04:03 GMT
USD/JPY continues to consolidate above 99.00
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EURUSD
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HIGH
1.31968
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LOW
1.31778
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BID
1.31800
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ASK
1.31804
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CHANGE
-0.08%
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TIME
08:44:17
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OUTLOOK SUMMARY
Down
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TREND CONDITION
Down
trend
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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MARKET ANALYSIS - Intraday Analysis
Upwards scenario: Possibility of retracement formation is seen above the yesterday high -1.3227 (R1). Break here is required to clear the way towards to higher targets at 1.3248 (R2) and 1.3269 (R3).
Downwards scenario: We placed our support level right below the local low at 1.3173 (S1). Clearance here is liable to open way towards to our interim target at 1.3152 (S2) and then might expose final aim at 1.3130 (S3).
Resistance Levels: 1.3227, 1.3248, 1.3269
Support Levels: 1.3173, 1.3152, 1.3130
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GBPUSD
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HIGH
1.5562
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LOW
1.55379
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BID
1.55491
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ASK
1.55498
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CHANGE
0.05%
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TIME
08:44:17
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OUTLOOK SUMMARY
Neutral
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TREND CONDITION
Sideway
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: Fresh fractal level at 1.5562 (R1) prevents further gains. Successful clearance here would suggest next intraday targets at 1.5580 (R2) and 1.5597 (R3).
Downwards scenario: On the downside, next support level locates at 1.5530 (S1). Possible penetration below this mark would open way towards to next target at 1.5513 (S2) and then any further market decline would be limited to last mark at 1.5496 (S3).
Resistance Levels: 1.5562, 1.5580, 1.5597
Support Levels: 1.5530, 1.5513, 1.5496
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USDJPY
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HIGH
99.703
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LOW
99.302
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BID
99.555
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ASK
99.557
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CHANGE
0.24%
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TIME
08:44:18
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OUTLOOK SUMMARY
Up
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TREND CONDITION
Up
trend
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TRADERS SENTIMENT
Bearish
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IMPLIED VOLATILITY
Medium
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Upwards scenario: Instrument gained momentum on the upside recently, turning short-term bias to the positive side. Next resistive structure on the way lies at 99.71 (R1), break here would suggest next intraday targets at 99.93 (R2) and 100.15 (R3).
Downwards scenario: Failure to establish positive bias today would shift our focus to the next support level at 99.29 (S1). Clearance here would open way towards to next targets at 99.06 (S2) and 98.82 (S3).
Resistance Levels: 99.71, 99.93, 100.15
Support Levels: 99.29, 99.06, 98.82
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