Top Forex Stories November 6th

American elections are still ongoing and the USD has been on retreat versus major currency pairs as there is no clear advantange for any of the candidates. Polling mishaps and early results give no indication of certainty for the incumbent or the challenger. The market does not like uncertainty and has punished the dollar versus major trading partners currencies.

The Reserve Bank of Australia started this day with a surprise decision to keep the interest rates untouched at 3.25%, after the market was expecting a 25 basis point cut. The decision was a sensible one, considering the European crisis does not have an end in sight and rumours of a Chinese economic recovery might be exaggerated it makes sense for the RBA to wait.



United States


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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
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