Throughout the course of last night the Reserve Bank of Australia left rates unchanged at 1.5% as widely expected. In his statement RBA Governor Philip Lower said that improved commodity prices, on the back of an improved global economy was affecting positively the Australian economy.
The Aussie was higher across the board so far this morning; AUDUSD has risen to session highs of 0.7632 after today’s open at 0.7590.
The US dollar closed in the positive yesterday, with the US dollar index (DXY) closing at 101.70. So far today the USD is softer but has remained overall widely supported thanks to expectation of a rate hike in the next FOMC meeting between 14-15th March. Next Friday US non farm payrolls will likely get attention ahead of the FOMC announcement the following week.
Later this morning we have German Factory Orders, EZ GDP from the Euro Zone. Later this afternoon no major imapct data is expected from the US session.
