Australia Holds Rates Steady, Trade Surplus Rises

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The Reserve Bank of Australia ( RBA ) held their short-term interest rates steady at 4.75% this morning, meeting analyst expectations. The value of the Australian dollar (AUD) was largely affected in a bizarre neutral fashion. The currency appears to be holding off on significant shifts as news from its neighbors comes in over the next few days.

Analysts are speculating that a fall in Chinese yuan ( CNY ) values may drop the Aussie, as could a hike in New Zealand's interest rates. But for now the Aussie seems to be holding its recent losses in anticipation of a further decline. Forex traders looking for a gamble may see this as an opportunity to jump into a new trend before it really takes off.


Read more forex trading news on our forex blog .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.




This article appears in: Investing , Forex and Currencies

Referenced Stocks: CNY , RBA

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