Daily Alert: Tuesday 7th March 2017

Mark NugentDaily Alert, March 2017

Forex Analysis for Tuesday 7th March 2017

Monday: BoJ Governor Kuroda wants bond buying to be sustainable and has no plans to tighten policy soon considering stagnant inflation and fragile recovery, according to sources. (Newswires)

RBA Interest Rate Decision 1.50% vs. Exp. 1.50% (Prev. 1.50%). RBA stated that unchanged policy remains consistent with economic growth and that high AUD/USD could complicate the economic transition. RBA added that inflation remains quite low and medium-term risk to China growth remains. (Newswire).

The USD index rose yesterday but there was little movement on global equity indices. The EUR took a pause after last week’s significant rise. The JPY is at the midpoint of its consolidation zone after a strengthening day and the GBP continues down. The AUD rises after the rate announcement on an expectation that the next rate change will be a hike, although I suspect this is some way off.

Today is quiet.

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