Market Brief Yields Rise In Cautiously Optimistic Trade

Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst


  • Currency markets remained within tight ranges due to a lack of top-tier news or headlines. Tomorrow’s ECB meeting is also suppressing volatility.
  • Reuters report that BOJ could be considering further easing, via an unnamed source at their upcoming meeting at 18-19 September.
  • RBA said they’re unlikely to implement unconventional policy measure’s (QE) but will consider them if necessary.
  • AUD and NZD are the strongest majors, JPY is the weakest during a cautiously risk-on session. AUD/JP broke its bearish trendline from the April high, USD/JPY moved to a 7-week high. EUR/USD remains around 1.1050 ahead of tomorrow’s ECB meeting.
  • National Australia bank revised their forecast for RBA to cut 50 bps by February 2020 (up from one cut).
  • Australian consumer’s looked past rising house prices and turned pessimistic, according to a Westpac survey.  Compared to a year ago, sentiment is down by -2.3%. Current conditions also fell by -2.7% in September.
  • Tom Watson, Labour’s deputy leader is to demand a Brexit referendum before the election.


Up Next:

  • No first-tier data throughout the European or US session could make for another quiet session.
  • Producer prices are expected to stay flat at 0% in August, although PPI excluding energy is forecast to expand by 0.2% from -0.1% prior. Yet with both headline annual reads having topped late 2018, downside pressures persist.



Related tags: Dollar Forex Shares market

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar