AUDUSD range was 0.9007-0.9092. It traded up to 0.9092 before the decision and ran into resistance ahead of the 0.9100 handle with more at 0.9130. After he decision traded lower as the interest rate futures markets discounted the chance of a December rate hike as the RBA said that October and November hikes would work to temper inflation and ensure a sustainable upswing in the economy. Downside 0.9000 offering good support for now with more at 0.8970/0.8950.


Market News

  1.  All focus was on RBA overnight as they raised the benchmark rate to 3.5% an increase of 0.25%.
  2.  Tokyo holiday also contributing to the quietness as markets subdued.
  3.  USDJPY range 90.15-90.49. With Tokyo out today very quiet in USDJPY. 90.70/91.20 still offering resistance topside.
  4.  EURUSD very subdued 14772-1.4811 range. Good resistance at 1.4810/20 area and again at 1.4840 with support at 1.4700/20. Still looks like traders favour buying on dips.