AUD/USD Holds Gains Ahead of RBA and US Elections

AUD-USD_oksignals_article image

The AUD/USD pair is holding onto gains near the 0.6600 level as the US Dollar weakens ahead of the US presidential elections and the Reserve

The AUD/USD pair is holding onto gains near the 0.6600 level as the US Dollar weakens ahead of the US presidential elections and the Reserve Bank of Australia’s (RBA) monetary policy decision.

The US Dollar Index (DXY) has declined significantly, driven by a recent poll showing Vice President Kamala Harris gaining ground against former President Donald Trump. A potential Harris victory is seen as less supportive of the US Dollar compared to a Trump win, which could boost inflationary pressures and strengthen the greenback.

The Federal Reserve is also expected to cut interest rates on Thursday, but at a slower pace of 25 basis points. This could further weaken the US Dollar.

On the other hand, the Australian Dollar is awaiting the RBA’s policy decision. The central bank is expected to keep interest rates unchanged at 4.35%, but investors will be watching for clues about future policy direction.

More To Explore

US_Index_oksignals_article image
Market News

US Dollar Continues Upward Momentum Amid Economic Data and Fed Signals

The US Dollar (USD) has entered volatile trading on Friday, attempting to extend its winning streak to six consecutive sessions. Positive economic data and Federal Reserve (Fed) commentary have created a mixed but broadly supportive environment for the Greenback. The US Dollar Index (DXY) sees heightened activity, with traders eyeing

admin November 15, 2024
EUR-GBP_oksignals_article image
Market News

EUR/GBP: Bearish Bias Prevails Despite Temporary Rebound

The EUR/GBP pair has experienced a temporary rebound, but the overall bearish trend remains intact. The pair is still trading below its 20-day SMA, indicating a short-term bearish bias. Key Technical Indicators: Support and Resistance Levels: While the recent rebound may offer a short-term buying opportunity for traders, it’s important

admin November 14, 2024

Whether you’re a seasoned pro or just starting out, our FREE daily signals are the perfect resource for anyone looking to optimize their trading strategy and achieve their financial goals. Sign up and start reaping the benefits of our unparalleled support and expertise!

Other pages
Quick links
Contact us

Our Support and Sales team is available 24 /7 to answer your queries

© 2023 OkSignals. All Rights Reserved. Since 2012

Disclaimer
© 2023 OkSignals All offers are for information purposes only. OkSignals TM shall not be held responsible for any errors, omissions, or inaccuracies within it. Any rules or regulations mentioned within the website are those relevant at the time of publication and may not be the most up-to-date. OkSignals does not endorse any of the products or services that appear on it or are linked to it and are not liable for any action that you may take as a result of the content of this guide, or losses or damage you may incur doing so. There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any decisions. Please remember that markets may rise or fall, and past performance does not guarantee future performance in respect of growth. OkSignals is the name of worldwide cooperation. Provided by members around the world with all available languages. OkSignals should not be referred to as investing or finance advisors.