Forex Today: Aussie rallies on unexpected RBA hike, US Dollar edges lower – by eren_fxstreet Majors Currencies Macroeconomics Commodities CryptoCurrencies
The Australian Dollar outperforms its rivals early Tuesday following the Reserve Bank of Australia's unexpected decision to raise the policy rate by 25 basis points to 4.1%. The US Dollar struggles to find demand as markets see a growing possibility of the Federal Reserve leaving its key rate unchanged at the next meeting.
On Monday, the ISM Services PMI report revealed a loss of momentum in the service sector's growth in May. Additionally, the publication showed a contraction in the sector's employment alongside a softening of input inflation. In turn, thecame under renewed bearish pressure and erased its gains to close the day flat. In the European morning, DXY stays in negative territory slightly below 104.00 and the benchmark 10-year US Treasury bond yield consolidates Monday's losses at around 3.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Forex Today: US Dollar hit by US data, RBA decision loomsThe most significant event during the Asian session will be the Reserve Bank of Australia's meeting, where there may be an announcement of another int
Read more »
Forex Today: Cautious start to the week ahead of key US dataHere is what you need to know on Monday, June 5: The US Dollar holds its ground against its major rivals at the beginning of the new week with the US
Read more »
Dollar on back foot after weak services data; Aussie awaits RBAGlobal markets have been focused on what the Fed might do at next week's meeting and thereafter, with central bank data causing some volatility in the dollar.
Read more »
Aussie bond yields and dollar rise after central bank delivers another surprise rate hikeThe RBA lifted the official cash rate by 25 basis points to 4.10%, its highest level since early 2012. It marked the second-straight surprise hike in a row.
Read more »
Best Electric Breast Pump 2023 - Today's Parent - Today's ParentWe looked at suction strength, noise, overall value and so much more to determine the best electric breast pumps out there. Yes—we tried them. breastpumps pumping
Read more »
Weekly Forex Forecast \u2013 NASDAQ 100 Index, USD/JPY, GBP/USDThe difference between success and failure in Forex / CFD trading is highly likely to depend mostly upon which assets you choose to trade each week.
Read more »