Aussie Rockets Higher

So how do we explain the stronger Aussie this morning? Stephen Innes, a currency trader at OANDA explained:

Governor  Lowe gave his first speech as the RBA Governor this morning and as expected  he did not deviate from  the Neutral RBA Tack and sounded rather bullish about the Economy while not  overly worried on the inflation front. The Aussie dollar was largely unaffected by his speech.

With major event risk looming for the Aussie dollar, local traders were treading lightly early in the session. But given the neutral stance in the RBA Monetary Policy Minute’s coupled with some positive move in risk this morning,  we could see the Aussie dollar supported throughout the session .

Also, the Aussie is picking up some tailwind from  the better than expected inflation print in New Zealand this morning

BARRON’S ASIA

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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