Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

Forex - AUD/USD edges lower after RBA minutes

Published 03/18/2014, 03:56 AM
Updated 03/18/2014, 03:56 AM
Aussie falls against greenback on RBA comments

Investing.com - The Australian dollar edged lower against its U.S. counterpart on Tuesday, after the Reserve Bank of Australia said it plans to maintain low borrowing costs and as markets were eyeing the Federal Reserve's policy statement on Wednesday.

AUD/USD hit 0.9064 during late Asian trade, the session low; the pair subsequently consolidated at 0.9072, shedding 0.17%.

The pair was likely to find support at 0.8995, the low of March 13 and resistance at 0.9133, the high of March 7.

In the minutes of its March policy meeting, the RBA said it saw more signs that record-low interest rates were supporting growth and reiterated that a period of steady borrowing costs was likely.

Meanwhile, concerns over the Ukraine crisis seemed to subside as sanctions imposed on Russia by the U.S. and the European Union were seen as mild.

Russian President Vladimir Putin was to give a speech later Tuesday, following Sunday's referendum in Crimea, which saw a majority of voters chose to join Russia.

The Aussie was lower against the euro, with EUR/AUD adding 0.12% to 1.5338.

Later in the day, the U.S. was to produce data on consumer inflation, in addition to reports on building permits and housing starts.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.