Federal Reserve chairman Ben Bernanke has a major problem on his hands. He is doing his best to try and save the economy from slipping further into recession. But he may have to sacrifice the U.S
Australia’s Consumer Inflation Expectations rose to a 7-month high of 3.2% for July, according to the Melbourne Institute’s survey. Indeed, rising oil costs in recent months may have contributed to worries that the price of goods will rise in the coming month. Three of the last four months saw consumer expectations of such upward pressure rise
The US dollar has appreciated steadily against most of its major counterparts this past week (the notable exception being USDJPY). However, the greenback’s rise has been conspicuously reserved.
The Australian dollar was hit hard due to the sharp drops we saw in FX carry trades, and the currency will face event risk overnight. The Australian labor markets started to deteriorate during the second half of 2008, and this is likely to continue through 2009. While we did see a surprise improvement in April, the June results are projected to show that the unemployment rate jumped up to a nearly 6-year high of 5.9 percent from 5.7 percent while the net employment change is anticipated to fall by 20,000
Trading the News: Reserve Bank of Australia Interest Rate Decision What’s Expected Time of release:?? ??? ? 07/07/2009 04:30 GMT, 00:30 EST Primary Pair Impact :?? ? AUDUSD Expected: ?? ??? ?3.00%??? Previous: ?? ??? ?3.00% Impact the RBA Rate Decision had on AUDUSD over the last 2 months mont hs ? Period Data Released Estimate Actual Pips Change (1 Hour post event ) Pips Change (End of Day post event) June 2009 06/02/2009 09:00 GMT 3.00% 3.00% +10 +116 May 2009 05/05/2009 09:00 GMT 3.00% 3.00% –4 +17 June 2009 RBA Rate Decision The Reserve Bank of Australia kept the benchmark interest unchanged at 3.00% for the second consecutive month in June, but continued to hold a dovish outlook for future policy as price growth falters. The RBA minutes said that the current policy in place ‘would be consistent with fostering sustainable growth and low inflation,’ but continued to see scope for ‘some further easing’ as the outlook for global growth remains weak
The Reserve Bank of Australia sold a 5-year record amount of Australian Dollars in the forex market last month; they sold A$1.433 billion. Selling came…
UK Retail Sales are expected to shrink -0.4% in the year to May, the first decline since February. Receipts have trended lower since May of last year,…
“We expect the economy to begin growing again toward the end of the year,” Reserve Bank of New Zealand Governor Alan Bollard said today.
Recent economic data and equity prices led the Reserve Bank of Australia to believe that “maintaining the current stance of monetary policy for the time…
Last week we wrote that the British Pound was showing signs of a double top below 1.6670 but held off on entry as prices tested resistance-turned-support…
