Forex Today: AUD lifted by RBA status-quo, Trump eyed

A quite affair in Asia, with the RBA’s status-quo policy decision and upbeat assessment of the Australian economy prompted a solid recovery in the AUD/USD pair. While broad based US dollar remained the key theme this session, after Fed official Harker’s comments boosted the bids around the buck. Harker noted that March FOMC should be on table for a rate lift-off. However, Kiwi and cable remained resilient to broad USD strength, with the former reaching fresh three-month tops.

Looking ahead, the German industrial production figures will kick-off a data-light calendar, followed by the UK Halifax HPI data. While the NA dockets holds the NZ GDT, Canadian trade balance and US JOLTS job openings data.

Besides, Court of Appeals will hear the challenge to Trump’s travel ban later on Tuesday. Also, the UK House of Commons vote on the Article 50 trigger will hog the limelight going forward.

Main topics in Asia

RBNZ: NZ 1 & 2 year inflation expectations to continue to increase

The Reserve Bank of New Zealand (RBNZ) came out with their latest quarterly inflation expectations report, reflection higher inflation expectations for two years.

NZD/USD sits at 3-months tops on upbeat NZ fundamentals

The Kiwi remains in close proximity to fresh multi-month tops on 0.73 handle, following the release of higher inflation expectations numbers published by the RBNZ.

RBA keeps rates unchanged at 1.5%, neutral bias remains

As widely expected, the RBA has decided to keep its interest rate unchanged at 1.5%, with the policy statement continuing to be interpreted as fairly neutral and data-dependent.

Iron ore stockpiles at Chinese ports hit new high - BBG

Iron-ore stockpiles at Chinese ports hit a new high, rising +3.3% to 123.5mln tons. This marks the biggest weekly percentage gain in fifteen months, Livesquawk reports data compiled by Bloomberg.

Key focus for the day ahead

EUR/USD breaches 1.0700 ahead of German data

The major now looks forward to the German industrial production release due out shortly, with markets expecting a slight deterioration in the industrial activity in December last year.

GBP/USD: Expect a new wave of rebounds - Natixis

Analysts at Natixis provide a brief technical outlook for trading GBP/USD in the short to medium-term.

Court of Appeals to hear challenge to Trump’s travel ban on Tuesday

FOX 8 news came out with the headlines on Tuesday, announcing that three federal judges will hear oral arguments in the challenge to the US President Donald Trump’s executive order on immigration curbs later today.

RTRS Poll: RBNZ seen keeping rates on-hold this week

The latest Reuters poll on what to expect from the RBNZ policy decision due later this week, suggests that New Zealand central bank will keep the Official Cash Rate (OCR) unadjusted at a record low of 1.75%.