Australia Holds Rates Steady, Trade Surplus Rises

By
A A A

printprofile

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

FOREXYARD

FOREXYARD

More from FOREXYARD:

Related Videos

Stocks

Referenced

Most Active by Volume

75,031,044
  • $16.26 ▲ 0.31%
64,683,841
  • $99.76 ▲ 2.14%
44,561,744
  • $14 ▼ 6.23%
37,984,130
  • $27.93 ▲ 0.36%
36,148,020
  • $94.39 ▲ 1.49%
33,981,456
  • $22.93 ▼ 1.38%
33,971,527
  • $44.08 ▲ 1.03%
33,685,322
  • $76.95 ▲ 1.32%
As of 10/20/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com