The Australian Dollar diverged after the interest rate stabilized
2018-11-06 07:41 am | Resource: News | No Views : 110
The Australian dollar traded slightly on Tuesday after the Reserve Bank of Australia left its overnight rate unchanged at 1.5%. The Australian central bank said it expected the inflation rate to "gradually" rise in inflation and to reach 3.5% GDP in the next few years.
"Taking into account available information, the Board considered that the monetary policy stance unchanged at this meeting would be consistent with sustainable growth in the economy and achieve the inflation target over time," the bank said in a statement.
Dollar and midterm elections
The dollar index, which tracks the greenback versus a basket of other currencies, rose 0.1% to 96.19 as investors awaited US midterm elections later in the day.
Which was accompanied by the optimism of Trump, the president of the United States, who claimed that "his optimism is witnessing a rocket rise" because of "the best economy in the history of our country." Speaking at a rally in Fort Wayne, the president repeated his earlier claims that the "radical" Democratic Party would "destroy the ball" of the current economy and the future of the country.
Currency divergence during Asian trading
Time frame Used - four hours The USDJPY is moving in a sideway direction in the near term. The USDJPY is still facing resistance and selling pressure around the resistance level of 108.55 and is still suffering from signs of weakness and low volatility for the USD/JPY pair despite its consolidation above the 106.80 level , and the USD/JPY is unable to surpass the Bollinger's moving average line. In view…
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