Looking forward 2May

Australia’s CPI read was quite poor, some expect the RBA to cut interest rates, some expect RBA on hold, due to release Budget 2016 Tuesday 7.30pm, also Governor Stevens saying “monetary policy alone is not enough to spur growth”. Rate announcement is on Tuesday 2.30pm.
USD dollar dropped sharply following the Fed statement, which made no mention of a June hike. The Bank of Japan opted to remain on the sidelines, despite the stronger yen which has hurt the Japanese export sector, with the BoJ staying on the sidelines and not implementing any easing, the yen has room to move even higher.

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Posted in Foreign Exchange News.