ForexLive Asia-Pacific FX news wrap: Bitcoin stabilised above $63K

and data flow was limited today. On the news front US politics
dominated (see below) while in data flow we had Q4 2023 Australian

Australian data was very poor indeed, the economy grew just 0.2% q/q, 1.5%
y/y. Elevated interest rates and the high and rising cost of living
were cited as drags. Household consumption was very disappointing,
with discretionary spending down 0.9% on the quarter and spending on
essentials +0.7%. The Reserve Bank of Australia next meet on March 18
and 19. The rate hike cycle is over and it seems too soon for a rate

Australian dollar dribbled a few tics lower after the data but soon
reversed towards highs for the session circa 0.6515. NZD and CAD rose
also. EUR/USD and GBP/USD are not a lot changed on the day.

USD/JPY had a small range only and is sitting more or less in the middle of it around 149.95 as I post.

US politics it was ‘Super Tuesday’ Primary voting. The usual two
suspects polled very strongly indeed and barring some sort of
misfortune look set to be the two contenders in November. Incumbent
President Biden won all except for American Samoa. Ex-President Trump
won all of his contests except for Vermont.

is reasonable steady around USD63,600 as I post.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button


Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.

100% secure your website.