AUD/USD rises after RBA holds rates at 2%

Posted On 03 Nov 2015

Sentiment was upbeat after US stocks jumped and volatility softened overnight, after a series of manufacturing reports in the US, Germany and Italy outpaced forecasts. The mood in Europe improved with news that final reading of the eurozone manufacturing PMI had been revised up to 52.3 from the “flash” reading of 52.0 in October.

The breakdown of the survey showed that overall output growth picked up slightly in October from September’s four-month low.

EUR/USD topped at $1.1053 on Monday. In Asia it had a quiet session, slipping to $1.1015. The Tokyo holiday and lack of news and data resulted in slow trading.

GBP/USD opened Tuesday 1.5416, traded 1.5412-26 in Asia. Focus turns to the Bank of England policy meeting on Thursday.

USD/JPY opened Asia at 120.77 after getting support from Wall Street gains. Buying in early Asia pushed the pair above the New York session high at 120.82 to 120.85.

AUD/USD opened on Tuesday at 0.7147. The pair traded 0.7141-77 right up to before the RBA rate decision. Then the pair see-sawed, hit 0.7110 then 0.7210 on no change decision.

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