The major currency pairs decided to trade in very tight Asian session ranges. The two strongest Forex movers AUD and CAD have just traded 12 pips after achieving the year highs against USD.

There is a drop in Australian home loans because of the thinning demand. The loan grants in Australia are dropped to 0.6% that was supporting the analyst’s estimates about the home loans grants.

Reserve Bank of Australia astonished Forex markets, by the decision of raising the interest rates to 0.25% to 3.25%. The economic situation of Australia is stronger than the anticipation, unemployment ratio is not mounting as it was expected and the rebound in private demand made the Governor of the bank, Glenn Stevens come to a decision to simplify its loose financial policy.

”With growth likely to be close to trend over the year ahead, inflation close to target and the risk of serious economic contraction in Australia now having passed, the Board’s view is that it is now prudent to begin gradually lessening the stimulus provided by monetary policy”, said Stevens.

Australia trade data is very disappointing as indicated by the Australian trade second report showed a shortfall of $1.52B in August. The figures released thinned the gap from July’s stature, but was much better than expected as the position of exports unsuccessful to pick up because of drops in coal exports and a stronger AUS.

AUD/USD - RBA decision set the AUD at fourteen-month high. The astonish rate boost heighten the AUD against USD that surged from its area below 0.88 point previous to the assessment to place a high near 0.8915 in New York trading session.

Worldwide reserves were elevated, as were goods, that improved risk longing and the worth of the AUD.
AUD/JPY- AUD expanded against JPY due to changing trend line. The pair of AUD/JPY rallied upon on the RBA declaration though a descending sloping trend of resistance at 79.25 capped its gains. As striking a short on Friday close to 76.30 in the starting, the AUD has rallied at 280 pips.

These are the Forex updates about the AUD and the surprises in the country caused due to RBA announcement regarding the interest rate increase.

The article mention news regarding Forex trading including the information from Australia and the effect of RBA announcement on the currency pair trading on the Forex floor against other major currencies.

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