Start Trading Now Get Started
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Forex Today: Aussie Falls as RBA Raises Bar to Tightening

By Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

The Reserve Bank of Australia raises its interest rate by 0.25%, but makes future hikes more unlikely, sending the Aussie tumbling.

  

 

Top Forex Brokers

1
Get Started 74% of retail CFD accounts lose money Read Review
  1. As expected, the Reserve Bank of Australia raised its interest rate a few hours ago from 4.10% to a 12-year high of 4.35%, but also raised its qualification for any further hikes within the current tightening cycle, which was a dovish tilt. This caused a decline in the Aussie, with the AUD currently the weakest currency today in the Forex market, while the US Dollar is the strongest, putting the AUD/USD currency pair in focus.
  2. The USD/JPY currency pair is trading back above the big round number at ¥150, showing renewed bullish impetus due to the fresh strength in the US Dollar today. This currency pair remains within a valid long-term bullish trend, so will be attractive to trend traders.
  3. Stock markets are mostly lower today, especially in Asia, where both the HSI and the Nikkei 225 are down by more than 1%.
  4. Cocoa and Sugar futures reached new multi-year highs yesterday, as soft commodities mostly perform well. These foods will be of interest to trend traders on the long side.
  5. There will be a release later of New Zealand Inflation Expectations data.
Adam Lemon

Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.

Most Visited Forex Broker Reviews