by George Hopkinson
The AUD was the best performing currency overnight as it rebounded from 4 month lows. The RBA held rates steady and retained their economic outlook despite the impact of the bushfires and the coronavirus epidemic in China. The cash rate is held at a record low of 0.75 percent, a widely expected decision given a recent decline in unemployment.
Boosting the AUD further was the decision by the Chinese central bank to inject USD242.74 billion via reverse repos on Monday and Tuesday. This helped Chinese stocks pare back some of the hefty losses. The move helped ease fears of a heavy economic impact from the coronavirus epidemic.
In the US, adding further optimism was data that showed new orders for US made goods rose to near 1-1/2-year highs in December.
Upcoming data today includes NZ Unemployment rate, however Aussie traders will be focused on the speech by RBA Governor Lowe where he’s expected to give the central banks outlook for 2020.
© Copyright - EncoreFX, 2018.EncoreFX (Australia) Pty Ltd ABN 42 607 244 879 AFSL 479 870 is the issuer of the financial products in Australia. The information on this website has been prepared without taking into account your objectives, financial situation or needs and so before acquiring any financial services or products from EncoreFX, you should consider the appropriateness of the information having regard to your own objectives, financial situation or needs. You should obtain the product disclosure statement (PDS) for the relevant product and consider the PDS before making any decision to acquire the product. The information on this website is not directed at residents of any country other than Australia and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. It is the responsibility of visitors to this website to ascertain the terms of, and comply with, any local law or regulation to which they are subject.
Adam Nikitins and Stewart McCallum were appointed Joint and Several Voluntary Administrators of EncoreFX (Australia) Pty Ltd on 30 March 2020.
Rees Logan, Adam Nikitins and Stewart McCallum were appointed Joint and Several Voluntary Administrators of EncoreFX (NZ) Limited on 30 March 2020.
Any queries regarding the Administrations should be directed to email@example.com.