At its September monetary policy meeting this Tuesday, the Reserve Bank of Australia (RBA) board members kept the official cash rate (OCR) unchanged at a record low of 0.25%, as widely expected. “The board decided to maintain the targets for the cash rate and the yield on 3-year Australian government bonds of 25 basis points,” [...]
The preliminary Industrial Production of Japan surges heavily past-1.2% forecast and 1.9% prior to print 8.0% mark on MoM. Though, the yearly figures are disappointing when flashing 16.1% contraction against -15.7% expected. Further, Retail Sales dropped 3.3% on MoM and 2.8% on YoY versus 8.0% and 2.4% respective forecasts. Japan's factory output rose in July [...]
Fundamental view: The Australian dollar has rallied rather significantly during the course of the week, especially on Friday as the US dollar is getting absolutely pummeled. US HPI monthly report and US Crude Oil Inventories on 26th August created bearish environment for the pair whereas Australia Private Capital Expenditure quarterly report on 27th August and Wholesale Inventories [...]
Fundamental view: The Euro struggled and managed to rise higher against dollar, it climbed to 1.19 again in the past week. NBB Business Climate & US HPI monthly report on 25th August and US Prelim GDP quarterly report, Pending Home Sales on 26th August favored downtrend for the pair whereas Europe German Final GDP quarterly [...]
