Australian Dollar maintains position following RBA Meeting Minutes release
The Australian Dollar (AUD) holds ground against the US Dollar (USD) on Tuesday.
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RBA says Australian dollar near equilibrium, not adding to tighter financial conditions
The Reserve Bank of Australia (RBA) said the Australian dollar had appreciated slightly since its previous meeting, supported by widening yield differentials with other advanced economies.
In its latest minutes, the central bank noted that the real trade-weighted index of the Australian dollar was now close to its estimated equilibrium level, based on its long-run relationship with the terms of trade and real yield differentials.
Policymakers said this suggests the modest rise in the currency is not exerting additional tightening pressure on financial conditions beyond that already created by existing interest rates.
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The RBA’s comments suggest policymakers are comfortable with the current level of the Australian dollar, viewing its rise as justified by yield spreads rather than excessive strength. The tone implies limited concern over currency-driven tightening ahead of future policy meetings.
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Earlier:
This article was written by Eamonn Sheridan at investinglive.com.
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China’s Commerce Ministry urges US to correct its wrong practices as soon as possible
China’s Commerce Ministry on Tuesday urged the United States (US) side to correct its ‘wrong practices’ as soon as possible. -
A EUR/USD Guide on How Long-Term Trends Reverse
It is natural for traders to fade the trend. Seeking value, one expects that elevated prices after a steep uptrend mean overpriced and low prices after a big correction always mean underpriced. Looking for value is something natural for the Homo Economicus. When we go to the store, we are looking for discounts. But with […]
The post A EUR/USD Guide on How Long-Term Trends Reverse appeared first on Action Forex.
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Gold (XAU/USD) Price Eyes Acceptance Above $4100/oz on US-China Trade War Fears, Up 2% on the Day
Gold sailed toward $4100/oz on Monday with the precious metal trading up around 2% on the day. The precious metal saw a significant selloff last week which looked like it could be the start of a significant retracement before renewed tension between the US-China sent market participants fleeing toward safe havens once more. Trade tensions […]
The post Gold (XAU/USD) Price Eyes Acceptance Above $4100/oz on US-China Trade War Fears, Up 2% on the Day appeared first on Action Forex.
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PBOC sets USD/CNY reference rate at 7.1021 vs. 7.1007 previous
The People’s Bank of China (PBOC) set the USD/CNY central rate for the trading session ahead on Tuesday at 7.1021 compared to the previous day’s fix of 7.1007 and 7.1353 Reuters estimate. -
PBOC sets USD/ CNY central rate at 7.1021 (vs. estimate at 7.1353)
The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as renminbi or RMB). The PBOC follows a managed floating exchange rate system that allows the value of the yuan to fluctuate within a certain range, called a “band,” around a central reference rate, or “midpoint.” It’s currently at +/- 2%.
The previous close was 7.1321
In Open market operations (OMOs) the PBOC inject 91bn yuan at an unchanged rate of 1.4%
- net injection of 91bn yuan
This article was written by Eamonn Sheridan at investinglive.com.
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Ethereum Wave Analysis
Ethereum: ⬆️ Buy Ethereum reversed from the support zone Likely to rise to resistance level 4400.00. Ethereum cryptocurrency recently reversed up from the support zone between the key support level 3400.00 (which also reversed the price in August), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from June. The upward […]
The post Ethereum Wave Analysis appeared first on Action Forex.
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China commerce ministry urges the US to correct its wrong practices
China commerce ministry:
- Responds to US saying it has proposed to talk with China after rare earths restrictions
- US cannot have talks while threatening to intimidate and introduce new restrictions, which is not right way to get along with China
- Urges US side to correct its ‘wrong practices’ as soon as possible, show sincerity in talks with China
- Two sides have maintained communication under the framework of the China-US economic and trade consultation mechanism
- On Monday, also held working-level talks with the US
This article was written by Eamonn Sheridan at investinglive.com.
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Singapore warns of slower 2026 growth after third-quarter GDP beats expectations
Gross domestic product rose 2.9% in the three months through September, beating economists’ forecasts for a 1.9% increase
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