Open/Wrap

Quick overview of Asian market

  • RBA cut rates by 25 bps as expected and maintained easing bias in statement:
  • AUD/USD dipped by 10 pips before immediately rallying almost 50 pips with short-term market caught overly positioned:
  • EUR/JPY had been trying to fall through the morning on lower equity markets but rebounded alongside the AUD:
  • Gold falls heavily, triggering stops below $1705.

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