US economy stalls as BOJ holds fire
Friday 29th April 2016Doing well to recover from Wednesday’s CPI print which showed the Consumer Price Index had slumped to its lowest point since 1999, the Australian dollar recovered from lows of 0.7571 when valued against its US Counterpart. Fighting its way to an eventual high of 0.7659 the biggest event across forex markets yesterday came after the Bank of Japan surprised market participants by keeping monetary settings unchanged, a decision which sent global stocks broadly lower and the Yen higher. With the US dollar in a somewhat neutralised position for the time being investors will look towards to the RBA next Tuesday a decision which could well provide the next bout of volatility. This morning the Australian dollar opens 0.5 percent stronger at a rate of 0.7624.