RBA Left The Door Open To Further Rate Reductions
TFI Markets | Sep 17, 2013 03:00AM ET
The Australian dollar traded lower against U.S dollar following the release of minutes from the Reserve Bank Australia’s most recent monetary policy meeting. The central bank kept he cash rate unchanged at 2.5 percent and left the door open to further rate reductions in the minutes. The Federal Reserve begins a two-day policy meeting at which it is forecast to reduce the pace of its U.S bond buying. Consumer price index (CPI) in the U.K, German economic sentiment and U.S core consumer price index are the major news for today.
Trade Idea
EURGBP
The trend remains down for the pair. A 4H break and close below 0.8350 targets 0.8295 alternative immediate resistance is seen around 0.8410 and a clear break that level targets 0.8455.
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