1️⃣ Summary of monetary policy decisions of the Central Bank of Australia after the latest meeting
The RBA did not change its interest rate policy as expected, after the policy decision, the AUD fell again. Notable policy points include:
+ Expanded quantitative easing (QE) program:
- Increase the program by 100 billion AUD;
- Asset purchase speed is at 5 billion AUD / week;
- It will be started in mid-April when the current show ends;
+ The RBA gives policy direction that they do not expect sufficient favorable conditions to raise interest rates until as early as 2024;
+ The outlook for the economic recovery is also slightly improved;
+ Commenting on the AUD, the RBA has a not so hard stance, they said: The exchange rate has increased and is in the upper range of the amplitude in recent years.
2️⃣ EUR is under selling pressure, USD benefits
- The dollar fluctuated near a seven-week high on Tuesday, most of the motivation comes from a sell-off in the euro as a blockade in the EU aimed at curbing the widespread pandemic has affected consumer spending. .
- The euro fell the most in 2 and a half weeks in the first session of the week when German retail sales data fell more than forecast in December, while the continent is still struggling with the deployment of vaccines. .
3️⃣ Notable facts and economic data today
- US "small non-farm" job data is released, the market is expected to increase by 45,000 people, and the previous value is down 123,000.
- According to the announcement, EIA crude oil inventories in the United States for the week to January 29 are expected to increase by 367,000 barrels, and the previous value will decrease by 9.91 million barrels. If the inventory falls, the price of oil can be supported. The API data released earlier this morning recorded a sharp drop.
On the central bank issue, the President of Reserve Bank of Australia Lowe delivered a speech. At the next morning, Evans, the 2021 FOMC voting committee and the Chicago Fed president, delivered a speech on the current economic situation and monetary policy during an online event.
For Proper Tips Ask Here and Also For More Information Join Us On WhatsApp ✆ – +601548770298
Telegram Channel Link -https://t.me/moneyliferesearch
No comments:
Post a Comment