Trading FOREX

A cross-currency swap is a type of FX instrument used by institutions and banks to gain better access to foreign debt markets. Find out more about this swap and why it’s used.

Leverage is a key part of forex trading due to large position sizes and small market daily movements. Take a look at our guide to leverage in forex, including how to calculate your risk.

The focus this morning for local markets has been on the RBA Board meeting minutes for September and for possible clues it contained as to the Board’s view around the pace of future interest rate hikes.

With the dust still settling on last night’s red-hot U.S inflation data, attention locally will turn to an Antipodean doubleheader tomorrow in the shape of Q2 NZ GDP and the Australian August labour force report.

This morning saw the release of Australian Business and Consumer Confidence data, framed against surging prices and a fourth consecutive 50bp rate hike from the RBA last week.

The national accounts released today showed the Australian economy in the June Quarter expanded by a solid 0.9% and 3.6% YoY. It's the third consecutive quarter of economic expansion for the Australian economy.

At its monthly meeting this afternoon, the Reserve Bank Board raised its official cash rate for a fourth consecutive time by 50bp from 1.85% to 2.35%.

The initial reaction in the FX market was as expected yesterday after Fed Chair Powell’s hawkish remarks at Jackson Hole.

The Australian jobs report for July has provided a messy mix. The unemployment rate fell to a 48-year low of 3.4%, despite the economy shedding 40,900 jobs, snapping a run of eight consecutive months of gains.

The Reserve Bank of New Zealand has today raised the Official Cash Rate by 50 basis points to 3%. It is the RBNZ’s fourth straight 50bp hike in a row, in a tightening cycle that started back in October.

At its meeting tomorrow, the Reserve Bank of New Zealand is widely expected to raise the Official Cash Rate by 50 basis points taking the cash rate to 3%. It will be the RBNZ’s fourth consecutive 50bp hike in a tightening cycle that started in October.