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AUD/USD Surfs its Way through Despite RBA Hold

Posted on March 2, 2009 at 22:47 in Commentary, Market Analysis by Tim Salem

Greetings All!

The Reserve Bank of Australia maintains and holds Interest Rates at 3.25%…while looking to the next Meeting for potential action.

The overall Economy of Australia remains a bit “resilient” considering the slightly better-than-expected Data Points of the last couple of days… as the Consensus for a substantial Rate Cut began to diminish.

On the Hourly here… a nice appreciation over the last few hours leading up to the Decision is indicative of “Priced-In” behavior.

Commentary is on the Capture, so give it a Click… and Post-Time is 3:45 GMT.

I wanted to briefly cover a couple of “Scenarios” dependent on your particular view here… and as mentioned… the Macro-Climate does support a Bearish view with Risk Aversion still the Name of the Game.

I will be back for another Update as we see more digestion and any “bleedout” of Data during the London Session into Europe’s Day today!

Tags: AUD/USD, Data, interest rate, Reserve Bank of Australia

2 Responses to “AUD/USD Surfs its Way through Despite RBA Hold”

on 03 Mar 2009 at 0:071joan stratos

Hi Tim, Glad you posted the AUD/USD chart. This is the pair I have been watching too. With a difficult market lately this looks like a pair where a few pips can be made.
on 20 Mar 2009 at 7:522Tim (CVJ)

Greetings Joan, and thank you for your participation!

I do apologize for my delay!… I inadvertently missed your Comment!

Coincidentally, I have a Post today on the Aussie Dollar as well, so it may be of benefit to you!

Have a look and thanks again!

http://blogs.fxstreet.com/fxtoday/

Sincerely,
- Tim -

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