Top Regulated Brokers
- As expected, the Reserve Bank of Australia raised its interest rate a few hours ago from 4.10% to a 12-year high of 4.35%, but also raised its qualification for any further hikes within the current tightening cycle, which was a dovish tilt. This caused a decline in the Aussie, with the AUD currently the weakest currency today in the Forex market, while the US Dollar is the strongest, putting the AUD/USD currency pair in focus.
- The USD/JPY currency pair is trading back above the big round number at ¥150, showing renewed bullish impetus due to the fresh strength in the US Dollar today. This currency pair remains within a valid long-term bullish trend, so will be attractive to trend traders.
- Stock markets are mostly lower today, especially in Asia, where both the HSI and the Nikkei 225 are down by more than 1%.
- Cocoa and Sugar futures reached new multi-year highs yesterday, as soft commodities mostly perform well. These foods will be of interest to trend traders on the long side.
- There will be a release later of New Zealand Inflation Expectations data.