Todayâ€˜s Forex top stories include - Changes in Aussies rates due to changes in imports; Chinese repo rate increases; and the low dollar financial support rates.
The rise and fall of imports, due to the fast improving economy, caused the central bank of Australia to raise the interest rates in the land down under, until the end of this year. This decision laid impact on the Forex market.
The repo rate and bank rates has increased up in China. The rate is marginally ahead of next weekâ€˜s initial public offering of $2.5 billion from Metallurgical Corp of China, and that helps to saturate the liquidity temporarily.
The bank rates falls in Singapore lower than the standard of the London banks offer of rates for USD. GBP and EUR fell steeply last night during the London session, when Forex traders felt the anxiety prevailing in the global Forex trading market.
The Forex trade deficit of Australia has great expansion, and improving employment conditions are giving support to the economy in its way to recover from the losses.
The domestic economy is holding its strength in imports, which moves up with consumption and investments. Aussies are running with Forex trade surplus during slow economy and deficit when economy is at its good pace.
EUR/USD - Positive change of +0.28
GBP/USD - Positive change of +0.60
USD/JPY - Positive change of +0.33
USD/CHF - Negative change of -0.17
USD/CAD - Negative change of -0.57
AUD/USD - Positive change of +0.66
These are the Forex trading updates with top headlines of the market changes, which are going to influence the Forex trading during the next few sessions.
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