05 Aug 2014 08:19GMT
EUR/USD - .... Despite a brief rise to 1.3425 ahead of European open, the single currency retreated sharply n penetrated Mon's NY sup at 1.3410 to 1.3402 after release of mixed service PMIs from EZ and its members before stabilizing.
Markit's PMI for euro zone's service industry leapt to 54.2 from June's 52.8, although was down from a flash reading of 54.4.
Offers are noted at 1.3420-30 n around 1.3440/45 with stops emerging above 1.3450, whilst bids are placed at 1.3390/80 n then 1.3370 with stops emerging just below last Wed's 8-1/2 month trough at 1.3366.
Italy services PMI came in weaker-than-expected at 52.8 vs forecast of 54.0 whilst France services PMI came in as expected at 50.4.
AUD/USD - ...Earlier RBA as widely expected, keeps its benchmark rate unchanged at 2.5%. The aussie briefly dipped to intra-day low of 0.9316 after the announcement.
Statements from RBA, quote :
RBA "repeats prudent course likely to be period of stability for rates";
says inflation to be consistent with target;
"strong expansion in housing construction";
"$A high by historical standards";
"expects below trend growth in year ahead";
"sees signs of improvement in labour mkt this year";
"$A offering less help to economy than it might in achieving balanced growth";
"home prices still rising but at slower pace than last year"
"sees wage growth modest over the period ahead".
Recommended Content
Editors’ Picks
AUD/USD: The hunt for the 0.7000 hurdle
AUD/USD quickly left behind Wednesday’s strong pullback and rose markedly past the 0.6900 barrier on Thursday, boosted by news of fresh stimulus in China as well as renewed weakness in the US Dollar.
EUR/USD refocuses its attention to 1.1200 and above
Rising appetite for the risk-associated assets, the offered stance in the Greenback and Chinese stimulus all contributed to the resurgence of the upside momentum in EUR/USD, which managed to retest the 1.1190 zone on Thursday.
Gold holding at higher ground at around $2,670
Gold breaks to new high of $2,673 on Thursday. Falling interest rates globally, intensifying geopolitical conflicts and heightened Fed easing bets are the main factors.
Bitcoin displays bullish signals amid supportive macroeconomic developments and growing institutional demand
Bitcoin (BTC) trades slightly up, around $64,000 on Thursday, following a rejection from the upper consolidation level of $64,700 the previous day. BTC’s price has been consolidating between $62,000 and $64,700 for the past week.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.