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AUD Strengthens as RBA Stays on Hold, RBNZ Takes the Central Bank Torch

JFD

The week started in a risk-off mode, as US President Trump threatened China with more tariffs. However, investors' appetite improved somewhat during the day as China’s willingness to still hold more talks this week may have kept hopes over a trade deal alive. Elsewhere, the RBA kept interest rates on hold overnight and the Aussie gained, perhaps as, ahead of the decision, there was some speculation for a cut. Tonight, it’s the RBNZ’s turn to decide on monetary policy with the forecast pointing towards a rate decrease.

Trump Threatens China, Aussie Gains as RBA Stands Pat

The dollar traded lower against most of the other G10 currencies on Monday and during the Asian morning Tuesday. It gained slightly only against CHF and JPY, while it traded virtually unchanged versus GBP and NZD. The biggest gainers were AUD, CAD and NOK.

Read the full financial markets daily report on JFD Research.

JFD Review

Source: https://www.jfdbank.com/en/research/aud-strengthens-as-rba-stays-on-hold-rbnz-takes-the-central-bank-torch-20190507
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