Currency Update: The AUD continued to range trade overnight ahead of the Reserve Bank of Australia's February cash rate decision today

Bell Potter

Stockbroker

Currency Update: The AUD continued to range trade overnight ahead of the Reserve Bank of Australia's February cash rate decision today. The AUD briefly broke back above USD0.8800, reaching USD0.8834. US manufacturing sector growth slowed sharply, dropping to 51.3 from 56.5 in January. However the AUD's rally was brief and the local currency settled back below USD0.8800 ahead of today's RBA meeting. It is widely expected to leave the cash rate on hold at 2.5%. It was a mixed night for currency markets overnight, while equity markets didn't perform well at all. The Dow was down -3.3pts to 15,396. European equities also retreated at the end of their session; however the EUR did benefit off the back of the better than expected manufacturing data throughout he Euro-zone, while the GBP failed to gain momentum, despite a solid ISM reading released in the UK.


Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.