Forex Today: Aussie surges on hawkish RBA, eyes on central bank speak – by eren_fxstreet Currencies Majors Macroeconomics Commodities CryptoCurrencies
extended its slide and came within a touching distance of 1.0710 before recovering modestly. As of writing, the pair was trading flat on the day near 1.0730. The data from Germany revealed that Industrial Production contracted by 3.1% on a monthly basis in December, compared to the market expectation for a decrease of 0.6%. European Central Bank Governing Council member Isabel Schnabel will be delivering a speech later in the day.
The BoC's Market Participants Survey for the fourth quarter of 2022 showed on Monday that the median of responses for the policy rate by end-2023 stood at 4%, forecasting a 50 bps cut.closed in positive territory on Monday but seems to be struggling to preserve its bullish momentum early Tuesday. At the time of press, the pair was trading modestly lower on the day at 1.3425.is having a difficult time gaining traction early Tuesday and trading in negative territory slightly above 132.00.
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