DJIA39832.48
LIVE73.19(0.18%)
NDX18286.14
LIVE5.30(0.03%)

AUD/USD sees little action even as Aussie Building Permits 15.3%


Tuesday, 3 March 2020 08:04 WIB

CurrencyAUD/USD,Building ApprovalBuilding Permits


The AUD/USD pair is seeing little action with investors turning a blind eye toward the horribly weak Aussie building permits number and awaiting the all-important Reserve Bank of Australia (RBA) rate decision.

The building permits fell 15.3% month-on-month in January, missing the expected rise of 1% by a big margin and down from December's 3.9%. In annualized terms, permits fell by 11.3% in January versus 7.2% previously.

Meanwhile, Australian current account surplus narrowed to A$ 1 billion in the fourth quarter from A$6.5 billion observed in the third quarter.

So far, however, the dismal data sets have failed to yield big moves in the Aussie dollar pairs. AUD/USD is currently trading largely unchanged on the day near 0.6536, having shed five pips or so following the release of the Aussie data at 00:00 GMT.

The investors look to be waiting on the sidelines ahead of the RBA rate decision due at 03:30 GMT. Goldman Sachs, Westpac and National Bank of Australia expect the central bank to cut interest rates by 25 basis points to a new record low of 0.5%.

Also, money markets have priced in a 25 basis point cut. So, if the RBA leaves rates unchanged, the AUD will likely pick up a strong bid. Alternatively, if the RBA cut rates and leaves the door open for another reduction in April, the AUD may face selling pressure.

Source : FXstreet


RELATED NEWS

  • The dollar was slightly offered, heading for a second day of losses amid very thin flows as traders took to the sidelines ahead of a slew of policy-rate decisions due this week. The Bloomberg Dollar ...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.