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Week in FX: Asia RBA Holds Rates as ECB OMT Boosts Markets

The Reserve Bank of Australia held rates steady for the third month in a row as it awaits the growth prospects of its biggest trade partner China. Governor Stevens mentioned there were doubts on Chinese growth and clear decline between the ratio of export prices to import prices.

Japanese markets closed on a high boosted by the European Central Bank decision to not limit the expected bond buying program. This came after European leaders went on the record to do everything in their power to keep the eurozone united. Bank of Japan Governor Masaaki Shirakawa also spoke to the press to make clear his commitment to ensure the stability of the Japanese Financial System.

Below are some other highlights of the week:


Australia and New Zealand




AMERICAS Week in FX [10]

EUROPE Week in FX [11]



  • JPY starts the week producing its current account
  • Trade Balance is released in CNY, CAD and USD
  • Mid-week we have the all-important German constitutional hearing
  • Monetary policy decisions in CHF, NZD and USD
  • Inflation and Retail sales data is presented in the USD
  • Unemployment claims numbers are released in GBP and USD
  • Week rounds off with consumer sentiment out of the USD


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Alfonso Esparza

Alfonso Esparza [16]

Senior Currency Analyst at Market Pulse [17]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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