AUD/USD trades around 0.7090 on Tuesday at the time of writing, up 0.25% on the day, rebounding after an initial pullback following the Reserve Bank of Australia (RBA) monetary policy decision.
AUD/USD trades around 0.7090 on Tuesday at the time of writing, up 0.25% on the day, rebounding after an initial pullback following the Reserve Bank of Australia (RBA) monetary policy decision.
BNY’s Head of Markets Macro Strategy Bob Savage highlights that the Canadian Dollar (CAD) has been among the best-performing G10 currencies over the past two weeks, helped by steady inflows during the Iran conflict.
The Indian Rupee (INR) trades lower against the US Dollar (USD) on Tuesday. The USD/INR pair rebounds to near 92.90 after a correction on Monday as the Indian Rupee resumes its downside journey amid the continuous outflow of foreign funds from the Indian stock market.
TD Securities analysts note that US rates rallied as markets stabilised, with attention on Fed policy expectations and geopolitical headlines. While hike odds have risen, they pushes back, arguing the hawkish outcome is more likely a prolonged pause.
Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $80.62 per troy ounce, down 0.40% from the $80.94 it cost on Monday.
MUFG’s Senior Currency Analyst Lee Hardman notes that the RBA delivered a second consecutive 25 bps hike to 4.10%, now the highest policy rate among G10 central banks, and that Australian Dollar gains versus the US Dollar were initially strong but faded.
Standard Chartered strategist Nicholas Chia notes that the Reserve Bank of Australia raised the cash rate to 4.10% in a 5-4 split decision, largely debating timing rather than direction.
ING’s Frantisek Taborsky highlights that Central and Eastern European FX and rates have seen some relief despite elevated energy prices. Regional central banks currently treat the Gulf-related energy spike as a supply shock and prefer to wait, with no case for hikes.
Dow Jones futures decline 0.27% to trade near 46,850 during European hours ahead of the US regular market open on Tuesday. S&P 500 and Nasdaq 100 futures fall 0.50% and 0.58% to trade near 6,670 and 24,530 at the time of writing.
German ZEW Survey - Economic Sentiment arrives at -0.5 in March. Economists expected the sentiment data to come in lower at 38.7 from 58.3 in February.