Reserve Bank of Australia raises rates by 25 basis points
EUR/USD 🔽
GBP/USD 🔽
AUD/USD 🔽
USD/CAD 🔼
USD/JPY 🔼
XAU 🔼
WTI 🔽
The Reserve Bank of Australia has just increased its interest rate by 25 basis points to 3.1%, aligning with market estimates. Meanwhile, Australia recorded 0.6% quarterly growth for its GDP, slightly lower than the projected 0.7%, and AUD/USD suffered minor losses at 0.6692.
As the Federal Reserve is yet to put an end to the tightening cycle, the greenback continues to strengthen against other major currencies. As a result, EUR/USD retreated to 1.0469, while GBP/USD slid more than 50 pips to 1.2137. USD/CAD increased over 60 pips to 1.3651, as Mitrade anticipated a rate hike of 50 basis points in Canada later tonight. USD/JPY rebounded from a low of 136.03 to 137.05.
Multiple attacks deep in Russian territory suggest Ukraine will not sit idly during winter. This is despite the extended Russian invasion putting pressure on the global oil supply. WTI oil futures decreased to $74.25 a barrel. Spot gold rose to $1,771.07 an ounce, and Bitcoin suffered minor oscillations, currently at 17,066.0.
In the stock market, the S&P 500 slipped 57 points (-1.44%) to 3,941, the Dow Jones Industrial Average fell 350 points (-1.03%) to 33,596, and the Nasdaq 100 fell 237 points (-2.01%) to 11,549.
GBP/USD 🔽
AUD/USD 🔽
USD/CAD 🔼
USD/JPY 🔼
XAU 🔼
WTI 🔽
The Reserve Bank of Australia has just increased its interest rate by 25 basis points to 3.1%, aligning with market estimates. Meanwhile, Australia recorded 0.6% quarterly growth for its GDP, slightly lower than the projected 0.7%, and AUD/USD suffered minor losses at 0.6692.
As the Federal Reserve is yet to put an end to the tightening cycle, the greenback continues to strengthen against other major currencies. As a result, EUR/USD retreated to 1.0469, while GBP/USD slid more than 50 pips to 1.2137. USD/CAD increased over 60 pips to 1.3651, as Mitrade anticipated a rate hike of 50 basis points in Canada later tonight. USD/JPY rebounded from a low of 136.03 to 137.05.
Multiple attacks deep in Russian territory suggest Ukraine will not sit idly during winter. This is despite the extended Russian invasion putting pressure on the global oil supply. WTI oil futures decreased to $74.25 a barrel. Spot gold rose to $1,771.07 an ounce, and Bitcoin suffered minor oscillations, currently at 17,066.0.
In the stock market, the S&P 500 slipped 57 points (-1.44%) to 3,941, the Dow Jones Industrial Average fell 350 points (-1.03%) to 33,596, and the Nasdaq 100 fell 237 points (-2.01%) to 11,549.
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