AUD/USD: Trading the Reserve Bank of Australia Interest Rate Decision
The Reserve Bank of Australia is widely expected to keep borrowing costs on hold for the sixth consecutive month in November, and currency traders are likely to react to the statement accompanying the rate decision as they weigh the prospects for future policy.
FOREX: Dollar Crosses a Fundamental Hurdle in GDP to Focus all its Attention on Next Week’s FOMC
With Friday’s outcome, the dollar has committed itself to a specific fundamental path going forward – one that is far more prone to volatility and wide open to meaningful trend development. The greenback had the opportunity to offset some of the heady event risk associated with next week’s Federal Open Market Committee (FOMC) rate decision.
Both Gold and Crude Find Stability Within Larger Ranges Ahead of FOMC
There was plenty of event risk for commodity traders to work with Friday. However, the top-billed GDP reading wouldn’t produce the kind of response it would usually be expected to rouse. Clearly the market is distracted with next week’s rate decisions.