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April 30, 2018

IronFX, Daily Report: RBA Expected to remain on hold & Bitcoin goes mainstream?

What are the important market events of the day?

This article is originally referred from IronFX News.

RBA Expected to remain on hold

  1. RBA is to announce it’s interest rate decision tomorrow morning and is expected to remain on hold at +1.50%.
  2. Current AUD OIS imply a probability for the bank to remain on hold at 99.59%.
  3. Market’s focus expected to shift to the accompanying statement and we see the case for the bank to have a rather dovish tone as inflation has remained unchanged at +1.9% and household spending seems to continue to be a concern.
  4. Should there be a dovish statement the market may react negatively and the AUD could weaken.

Bitcoin goes mainstream?

  1. Bitcoin seems to start settling down after a rather busy week.
  2. Media suggest that a number of large institutional investors seem to be preparing to invest in the cryptomarket within the next 6-12 months.
  3. On the other hand, regulations seem to be tightening, as a number of crypto exchanges eye Malta for their seat.
  4. Should there be further positive headlines for the crypto market, we could see a moderate rise of Bitcoin’s value.

Today’s other economic highlights

  • Germany: Retail Sales for March, Survey: +0.8% mom Prior: -0.7% mom, 06:00 (GMT), could strengthen the EUR
  • Preliminary HICP for April, Survey: +1.5% yoy Prior:+1.5% yoy, 12:00 (GMT), could weaken the EUR
  • US: Core PCE Price Index for March, Survey: +1.8% yoy Prior:+1.6% yoy, 12:30 (GMT), could strengthen the USD

As for the week ahead

  • Tuesday: RBA’s interest rate decision, Canada’s GDP for February and US ISM Mfg PMI for April
  • Wednesday: New Zealand’s employment data, China’s Caixin Manufacturing PMI for April, Eurozone’s preliminary CPI for April and Unemployment rate for March, US ADP Employment Data and the Fed’s Interest rate Decision.
  • Thursday: Norge’s Bank interest rate decision, the UK Service’s PMI for April, Eurozone’s preliminary CPI rate for April and the US ISM Non Mfg PMI for April
  • Friday: US Employment Report (NFP Friday) for April.

IronFX Daily Market Report April 30th

Original Source: IronFX News

All Forex Brokers

  • 1Market
  • 4XC (4xCube)
  • AAAFx
  • ACY Securities
  • AdroFX
  • AGEA
  • AMarkets
  • AvaTrade
  • Axi
  • AximTrade
  • Axiory
  • AZAforex
  • BDSwiss
  • BKFX
  • BlackStone Futures
  • Capex
  • Capital.com
  • ClickTrades
  • CM Trading
  • Deriv
  • easyMarkets
  • ETFinance
  • Evolve Markets
  • EXNESS
  • FBS
  • FinmaxFX
  • ForexChief
  • ForexMart
  • ForexVox
  • Fortrade
  • FP Markets
  • FXCM
  • FXDD
  • FXGiants
  • FXGlory
  • FXOpen
  • FXPRIMUS
  • FxPro
  • FXTM
  • HotForex
  • HotForex ZA (South Africa)
  • HYCM
  • IC Markets
  • IFC Markets
  • INFINOX
  • InstaForex
  • IronFX
  • JustForex
  • Land-FX
  • Libertex
  • LiteFinance (LiteForex)
  • LMFX
  • LQDFX
  • M4Markets
  • MiltonMarkets
  • MyFX Markets
  • NordFX
  • NSBroker
  • OANDA
  • OctaFX
  • Oinvest
  • Olymp Trade
  • OX Securities
  • Pacific Union
  • PatronFX
  • PaxForex
  • RM Markets
  • SimpleFX
  • SquaredFinancial
  • SuperForex
  • ThreeTrader
  • Tickmill
  • Tifia
  • TIOmarkets
  • Titan FX
  • TopFX
  • TopstepFX
  • Trade Nation
  • Trade360
  • Traders Trust
  • Tradeview Forex
  • UFX
  • Valutrades
  • VantageFX
  • WeTrade FX
  • XM
  • XMTrading
  • XTB
  • YADIX

All Crypto-Currency Exchanges

  • Bibox
  • Binance
  • BitMEX
  • Bitpanda
  • BKEX
  • bybit
  • CEX.IO
  • CoinEx
  • CoinField
  • CoinPark
  • IRONX
  • Kriptomat
  • Paxful
  • PrimeBit
  • StormGain
  • Trade8
  • Wisebitcoin
  • XBTFX
  • YObit

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