Short term 1hr Chart of ASX Futures for monitoring Intraday movements.
Useful for tracking high volatility fluctuations, especially during key economic announcements.
CAPITALCOM:AU200 ASX:XJO ASX:XVI
Fundamental Backdrop
RBA Gov Lowe speaking on Wednesday.
He repeated that the RBA would have to resort to the only “blunt instrument” at its disposal, which was to keep increasing interest rates.
Previously an increase to the interest rates only caused the AUD to weaken further.
Technical Confluences
Near-term resistance level at 0.65700
Near-term...
Things seem to be going well down under. With Iron Ore prices jumping close to 8% last week, Australia, the largest exporter of the raw material stands to benefit greatly. In 2021, Iron Ore exports totaled close to US$120 billion. This contributes greatly to the demand side pressure on the Australian dollar.
Looking at the charts, the AUDUSD pair is currently...
The Reserve Bank of Australia (RBA) concluded its monetary policy meeting on Tuesday with no change in its weekly A$4 billion bond purchases, aka quantitative easing (QE), while holding interest rate unchanged at 0.10%. What has changed during this meeting is the ending of the central bank’s yield curve control (YCC).
Dropping the YCC
It all began when the RBA...
The dovish tapering decision.
During its monetary policy decision yesterday, the Reserve Bank of Australia (RBA) kept its cash rate unchanged at 0.10%. As promised, the central bank proceeded with its quantitative easing (QE) tapering plan announced back in the July’s meeting. What came as a surprise is the duration of the new round of QE. Previously, the RBA...
Three days ago, the Reserve Bank of Australia (RBA) delivered a little surprise when it decided to stick with its quantitative easing (QE) plan announced back in July despite the recent spike in COVID cases in Australia. (Refer to my post "RBA Sticks With QE Tapering Plan (04 August 2021)" on RBA monetary policy) Details on why the central bank decides to...
The RBA’s decision.
During their monetary policy meeting yesterday, the Reserve Bank of Australia (RBA) kept its monetary policy unchanged, holding interest rate at 0.10% and quantitative easing (QE) at a rate of A$5 billion per week.
A little surprise.
With the recent spike in COVID cases in Australia due to the highly contagious Delta variant, the market was...
Last week, the Bank of England and the Reserve Bank of Australia held their first monetary policy meeting for this year. In this article, we will look at the takeaway from the meetings.
BoE put to rest speculation on adoption of negative interest rate.
The third national lockdown imposed on England early last month led to the speculation that the Bank of...
