Sunday, February 20, 2011

Forex day trading live trade room NY open

Forex day trading  NY open As widely expected, the RBA this morning kept their overnight rate unchanged at 4.50%. In his subsequent statement, Governor Glenn Stevens touched on international factors such as moderated Chinese growth, the results of the European stress tests, a weaker jobs picture in the US and also addressing issues much closer to home such as the lower CPI reading, a weak credit market and firming labor market. But perhaps the biggest benefactors of the decision were home owners and the PM herself. With the inflation rate close to targets, the third consecutive rate pause should provide a respite to those with mortgage repayments. The rate hike was widely welcomed by PM Julia Gillard, who of late has seen her popularity diminish as a series of a rate hikes since October have made home loans more of a burden to borrowers. The AUDUSD was trading at 0.9085 after opening at 0.9137 and perhaps was dragged lower by some weaker data released earlier in the morning—MoM retail sales dropped to 0.2% (v 0.4% exp) while building approvals also fell (MoM -3.3% act v 2.0% exp / YoY 13.2% act v 16.0% exp). Asian equities were trading higher this morning and showed no signs of profit booking following yesterday's impressive rally. The Nikkei closed +1.29% higher, and while the gains in Chinese and Indian equity markets were a bit more modest. Currencies have been largely ranging, with the USDJPY a touch lower at 86.45 after opening today at 86.50.

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