{"id":145549,"date":"2016-08-02T05:34:57","date_gmt":"2016-08-01T19:34:57","guid":{"rendered":"https:\/\/www.gomarketingteam.com\/auarticles\/rba-cut-interest-rates\/"},"modified":"2021-03-09T14:45:55","modified_gmt":"2021-03-09T03:45:55","slug":"rba-cut-interest-rates","status":"publish","type":"post","link":"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-cut-interest-rates\/","title":{"rendered":"RBA cut interest rates"},"content":{"rendered":"<p><strong>Upcoming News<\/strong><\/p>\n<p style=\"padding-left: 30px;\"><strong>\u00bb<\/strong> 6:30pm Construction<strong> PMI <\/strong>&#8211;<strong> GBP<br \/>\n\u00bb<\/strong> No release time, GDT Price Index &#8211;<strong> NZD<br \/>\n<\/strong><\/p>\n<p>As expected the RBA cut interest rates by 25 basis points. \u00a0The AUDUSD dropped on the news but has retraced most of its drop. The AUDUSD lost 54 pips to .7488, buyers have come back in taking it back above .7500. The AUS200 lost ground after the disappointing building approvals and trade balance figures. It found some buying support post rates release but is currently still trading lower by 23 points. The USD and JPY have seen quiet trade so far today with small Asain session ranges. Signs did come in we might be some JPY selling but currently, it\u2019s very choppy with little direction.<br \/>\nTonight I\u2019m looking for weaker opens in Europe with strong selling on the GER30 and UK100 overnight. The UK100 has broken out of a trend channel and is sitting around a support base. Gold is showing active sellers at 1354 this could come in as short term resistance off 1355. Price is still\u00a0 in a short-term trend up but I would like to see 1354.20 closed above to show a continuation towards 1366 highs.<br \/>\n<strong>AUDUSD \u2013 <\/strong>Considering the negative influences today the AUD has held up very well. The rate cut took prices down to .7490, this area has shown support and indecision previously. \u00a0We have seen this area reconfirm today. I\u2019d be paying attention to this level for the near term. Continued buying could set up a failed low if buying holds out tonight.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-14900 size-medium\" title=\"AUDUSD candlestick chart\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2016\/08\/02082016-AUDUSD-600x450.png\" alt=\"AUDUSD candlestick chart\" width=\"600\" height=\"450\" \/><\/p>\n<p><strong>US30 \u2013<\/strong> Today\u2019s price is sitting on a key short-term level. Overall we have a bearish channel. The key level 18395 has seen 5 tests holding up so far. To the top, we have a lot of downward pressure. A break lower set\u2019s in new prices not seen since mid-July. A break above the channel sets up a continuation of the current trend which could offer a buy idea. If we see a break lower, I\u2019d be looking for a test down to 18235.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-14901 size-medium\" title=\"US30 bearish\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2016\/08\/02082016-US30-600x450.png\" alt=\"US30 bearish\" width=\"600\" height=\"450\" \/><\/p>\n<p><strong>XAUUSD &#8211;\u00a0 <\/strong>Gold is showing a normal trend formation with the current retracement not overlapping its previous high. 1355 is showing short-term resistance. Overall the picture still looks good on the Med term for continued higher prices. I would like to see any short term pull back to find support from 1333 to 1341. A break and close below 1333 could be indicating a lower high is coming in and confirming.<br \/>\n<img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-14902 size-medium\" title=\"XAUUSD gold medium term rally\" src=\"https:\/\/www.gomarkets.com\/wp-content\/uploads\/2016\/08\/02082016-XAUUSD-600x450.png\" alt=\"XAUUSD gold medium term rally\" width=\"600\" height=\"450\" \/><\/p>\n<hr \/>\n<p><strong>Good Trading.<\/strong><br \/>\n<em>Please note that trading Forex and Derivatives carries a high level of risk, including the risk of losing substantially more than your initial investment. Also, you do not own or have any rights to the underlying assets. You should only trade if you can afford to carry these risks. Our offer is not designed to alter or modify any individual\u2019s risk preference or encourage individuals to trade in a manner inconsistent with their own trading strategies.\u00a0<\/em><br \/>\nAll times are in AEST.<br \/>\nWritten by Joseph Jeffriess,\u00a0Wixad Market Strategist<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Upcoming News \u00bb 6:30pm Construction PMI &#8211; GBP \u00bb No release time, GDT Price Index &#8211; NZD As expected the RBA cut interest rates by 25 basis points. \u00a0The AUDUSD dropped on the news but has retraced most of its drop. The AUDUSD lost 54 pips to .7488, buyers have come back in taking it [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2805],"tags":[],"class_list":["post-145549","post","type-post","status-publish","format-standard","hentry","category-central-banks"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>RBA cut interest rates - Wixad<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/rba-cut-interest-rates\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBA cut interest rates - Wixad\" \/>\n<meta property=\"og:description\" content=\"Upcoming News \u00bb 6:30pm Construction PMI &#8211; GBP \u00bb No release time, GDT Price Index &#8211; NZD As expected the RBA cut interest rates by 25 basis points. \u00a0The AUDUSD dropped on the news but has retraced most of its drop. 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The AUDUSD lost 54 pips to .7488, buyers have come back in taking it ","link":"https:\/\/www.gomarkets.com\/en\/articles\/central-banks\/eyes-are-on-the-boe-tonight-for-the-rate-decision\/","type":"next","category":"central-banks"},"previous":{"id":145548,"slug":"jpy-sees-a-wild-trading-session","title":"JPY sees a wild trading session","date":"2016-07-29 05:42:56","excerpt":"Upcoming News \u00bb 6:30pm Construction PMI &#8211; GBP \u00bb No release time, GDT Price Index &#8211; NZD As expected the RBA cut interest rates by 25 basis points. \u00a0The AUDUSD dropped on the news but has retraced most of its drop. The AUDUSD lost 54 pips to .7488, buyers have come back in taking it ","link":"https:\/\/www.gomarkets.com\/en\/articles\/forex-trading\/jpy-sees-a-wild-trading-session\/","type":"previous","category":"forex-trading"},"category":{"slug":"central-banks"},"_links":{"self":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts\/145549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/comments?post=145549"}],"version-history":[{"count":0,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/posts\/145549\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/media?parent=145549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/categories?post=145549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gomarkets.com\/en\/wp-json\/wp\/v2\/tags?post=145549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}