Daily Outlook - November 3rd
Posted 11-03-2009 at 02:05 AM by Yohay
Excellent American figures didn’t clear the fear yesterday. Today is a rather light day, with the Australian rate hike standing out. Let’s see what else is one the agenda today:
Australia did it again – Glenn Stevens’ RBA raised the interest rates once again – Australia’s Cash Rate is now 0.25% higher, at 3.5%. This decision was widely expected. A rate hike in December isn’t certain.
In the RBA Rate Statement, Stevens said that the strong rise in the Aussie is hurting exports. This talk against the currency and the expected decision made AUD/USD drop after the decision. AUD/USD is now at 0.9029.
There’s lots more on the Aussie’s agenda. For more, read the AUD/USD Forecast.
In Britain, Construction PMI is expected to rise from 46.7 to 47.2, still under the critical 50 mark. This means that expectations are still for contraction in this sector.
Read the rest of the daily forex forecast.
Australia did it again – Glenn Stevens’ RBA raised the interest rates once again – Australia’s Cash Rate is now 0.25% higher, at 3.5%. This decision was widely expected. A rate hike in December isn’t certain.
In the RBA Rate Statement, Stevens said that the strong rise in the Aussie is hurting exports. This talk against the currency and the expected decision made AUD/USD drop after the decision. AUD/USD is now at 0.9029.
There’s lots more on the Aussie’s agenda. For more, read the AUD/USD Forecast.
In Britain, Construction PMI is expected to rise from 46.7 to 47.2, still under the critical 50 mark. This means that expectations are still for contraction in this sector.
Read the rest of the daily forex forecast.
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