Breaking News: AUD/USD Spikes +40 Pips, RBA Leaves Rate on Hold - Forex News by FX Leaders

Breaking News: AUD/USD Spikes +40 Pips, RBA Leaves Rate on Hold

Posted Tuesday, February 5, 2019 by
Arslan Butt • 1 min read

The AUD/USD is trading bullish dramatically, adding more than 40 pips to trade near $0.7246.

The bullish movement has been triggered after RBA (Reserve Bank of Australia) decided to leave the cash rate unchanged at 1.50 percent.

Considering the sharp decline in oil prices and the slowdown in the global economic outlook, the market was expecting a sort of dovish tone from RBA.

But the RBA seems very optimistic about the economy. In fact, RBA says low rates are supporting the economy and progress in unemployment, while inflation is expected to be gradual.

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About the author

Arslan Butt // Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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