Reserve Bank of Australia cuts Cash Rate 25bp to 2.50%

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Tuesday August 6, 2013 - 09:57:55 GMT
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Reserve Bank of Australia cuts Cash Rate 25bp to 2.50%

Reserve Bank of Australia cuts Cash Rate 25bp to 2.50%
6 August 2013 10:00 gmt

CALENDAR: North America: CA/US- Trade, 3-yr Auction, API Energy

HIGH IMPACT ITEMS: CA/US Trade,

The Reserve Bank of Australia cut its cash rate target by 25 bps to 2.50% as widely expected. Natiomal elections are due in Australia on Ausgust 7. The 10-yr Aussie bond is 3.59%, +2bp.

The rest of the week features a few major items, such as Australian and Canadian employment data, Reserve Bank of Australia and Bank of Japan rate decisions, plus a number of other items.

Recent U.S. data still suggest that a tapering of the Fed Asset Purchase program is could come as early as September, notwithstanding soft U.S. July employment data.
Under these circumstances, we typically could see the USD remain in choppy trade for the balance of the summer and then gain against most major currencies in the fall, but we would need a sustained improvement in the data first.

For additional key items and more detail (dates, times, data estimates), be sure to reference our Economic Calendar and see the FOREX FORUM for key data and charts as they are released.

20d avg
10-yr
Equities

EURUSD 1.3103
JGB 0.78% 0bp
Asia Close Mixed

USDJPY 99.13
Bund 1.69% +5bp
Europe:Mixed

EURJPY 130.69
U.S. 2.65% +1bp
North America: Mixed

FX Trade Talk: What's moving markets-- Commentary, data. and data charts posted continuously on FOREX FORUM

John M. Bland, an author and a founding partner of Global-View.com, has been a corporate FX consultant for a major N.Y. bank, a forex trader for a major N.Y. institution, and an FX analyst for a blue chip Fed watching service.. John has an MBA in International Finance and an A.B. in Economics from the University of California at Berkeley.

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Tuesday August 6, 2013 - 09:57:55 GMT global-view.com - www.global-view.com