FOREX: Dollar – Watch the S&P 500 Next Week, Not the April NFPs
It was an appropriate way to end the week and month. The tattered US dollar slid to its lowest level on a trade-weighted basis since July 30th, 2008 – fully erasing the safe haven premium the currency had built up through the collapse of the housing crisis and the subsequent global financial crisis that followed.
AUD/USD: Trading the Reserve Bank of Australia Interest Rate Decision
Although the Reserve Bank of Australia is widely expected to hold the benchmark interest rate at 4.75% in May, the central bank may strike a hawkish tone for future policy as price pressures intensify, and the statement accompanying the rate decision could push the AUD/USD to a fresh record high as currency traders expect to see higher borrowing costs over the coming months.
FX Headlines: Dollar Slide Marks Worst Month Since September
The struggles in the overnight session capped off what would be the worst month the U.S. Dollar has seen since September, as a struggling recovery in the United States has prompted the Federal Reserve to continue its ultra-loose monetary policy, putting further downside pressure on the Greenback.