The hawkish rhetoric continues to soften as the RBA makes the unsurprising decision to leave rates on hold.
Market analysts at FXCM suggest currency traders should be looking to sell the Australian dollar against the greenback on any drop below 1.0665.
It was a quiet offshore session with the US closed for Independence Day.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
Barclays Capital’s analysis of seasonal trends for July shows mixed results across equity markets, but commodities, copper in particular, should perform strongly.
The June quarter ended with a bang on Wall Street as Greek fears faded. Dow up 152.
Greece has approved its austerity package in principle on a night full of positive news. Dow up 72.
Wall Street posted another strong rally ahead of tonight’s Greek vote and some surprising data at home. Dow up 145.
A deal offered by French banks on Greek debt helped ease fears and turn Wall Street around last night. Dow up 108.
Market analysts at FXCM suggest a perfect storm is forming for the US dollar and risk given the pending expiry of QE2 and a deepening of the Greek sovereign debt crisis.