TraderPlanet.com :: Commentaries tagged (australian-dollar)

Surprise RBA Decision Boosts Australian Dollar

Hyerczyk, TraderPlanet.com — Wed, 08 Feb 2012 12:45:08 +0000

Overnight, the March Australian Dollar futures contract touched a high not seen since late July after the Reserve Bank of Australia surprisingly kept its benchmark interest rate at 4.25%. Economists had been expecting another cut from the central bank.

Steady growth and an optimistic outlook for inflation were the key contributing factors to the decision. The monetary policy statement included the line, "with growth expected to be close to trend and inflation close to target, the board judged...

Australian Dollar Reaches Key Pivot Zone

Hyerczyk, TraderPlanet.com — Fri, 27 Jan 2012 12:06:07 +0000

The March Australian Dollar reversed course overnight and is now in a position to test Thursday's high at 1.0628. Yesterday the market broke slightly after trading this level, but this was most likely profit-taking rather than fresh shorting.

Technically the market is overbought by some oscillators which is giving a few traders an excuse to pare their existing open long positions. Furthermore, the market is testing the October 27 top at 1.0584. Since this top was made during a tumultuous time ...