US Dollar peaked to highs of 93.36 yesterday on the back the US senate’s approval of a much awaited tax bill. However support has eased as we move deeper into Tuesday with much of the anticipation having already been factored in ahead of the move.
The USD’s also finds itself with cooler support because bill negotations move into another phase and negotiations between the Senate and the House are expected this week as they move into reconciling the bill with the House of Representatives.
In line with anticipations the Reserve Bank of Australia left its cash rate unchanged at 1.5%, a level it has been holding onto since August 2016. The status quo is in line with the Australian Central bank’s signaling of a steady outlook.
The Aussie has been in support this morning scoring gains across the board. AUDUSD is currently trading at 0.7650 after session open at 0.7596.
Later today we are expecting Services PMIs from the EZ and the UK, EZ retail sales and US ISM Services as well.
