Welcome to our daily market update, where we help keep you informed on the latest happenings in the world of FX.
If you have any questions or would like anything further explained, please don’t hesitate to reach out to your account manager or email info@cafx.com
MACRO REPORT
The AUD/USD trades up to 0.6580 on Tuesday, rebounding from the day’s low near 0.6520. The RBA held rates steady early Tuesday as markets expected, but another rate hike is still considered.
Investors will also be looking to figure out how close the Fed is to cutting interest rates when the Meeting Minutes drop on Wednesday.
The RBA held rates for the time being, but the Australian central bank’s meeting minutes appears to be leaning towards further rate hike if targets are not met on inflation soon. With Australia’s tight labor market and still-high services inflation, the RBA expects it could take until well into 2025 before inflation reaches target levels.
Looking ahead on economic data, Investors will keep eyes on the FOMC’s latest Meeting Minutes, Investors will be looking to see how close the Fed is to delivering interest rate cuts, with the market broadly expecting a first rate cut in June
Disclaimer:
The market update provided by Corporate Alliance FX (CAFX) is for reference only and does not constitute a bid, levy, offer or invitation to offer for the financial product, the basis for any contract or commitment, a recommendation for the purchase or sale of any investment instruments, financial, legal, tax, investment advice, investment advice or other opinions. It will not be legally liable for any consequences or losses caused by the information or content involved.
Corporate Alliance Group Pty Ltd T/A Corporate Alliance FX (CAFX) (ABN 58 167 119 226, AFSL 523351) (i.e. CAFX), CAFX independently holds the Australian Financial Services licence no. 523351 (AFSL), so CAFX is regulated by the Australian Securities and Investment Commission (ASIC) and, and although ASIC is a strictly regulatory body, it does not endorse a specific financial product. ASIC’s regulation of CAFX applies to all services under the financial licence held by CAFX, including the issuance of foreign exchange settlement, foreign exchange payments, foreign exchange risk control, hedging, market making and providing financial advice.
