Breaking News: AUD/USD Spikes +40 Pips, RBA Leaves Rate on Hold
The AUD/USD is trading bullish dramatically, adding more than 40 pips to trade near $0.7246. Here's what happened...
Arslan Butt•Tuesday, February 5, 2019•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.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
ABOUT THE AUTHOR
See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
Related Articles
Comments
Subscribe
Login
Please login to comment
0 Comments
Oldest
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals