Previous Trading Days Events 20.08.2024

RBA Meeting Minutes  RBA kept its cash rate at 4.35 for the sixth consecutive meeting, aligning with market expectations, while maintaining the Exchange Settlement balance rate at 4.25 and signalling a continued restrictive stance until inflation targets are achieved.

Canada Inflation Rate Dropped to 2.5 YoY in July 2024 from 2.7 in June, the slowest since March 2021.

Canada CPI Trimmedmean Fell to 2.7 YoY in July 2024, the lowest since June 2021, below the 2.8 forecast.

Canada CPI MoM Increased by 0.40 in July 2024.

Winners Vs Losers In The Forex Market

On August 20th, 2024, NZDUSD surged as the top performer, rallying 0.61 with a gain of 37.4 pips, while USDCHF plunged as the biggest loser, dropping 1.02 and shedding 88.0 pips.

News Reports Monitor Previous Trading Day 20.08.2024

Server Time Timezone EEST UTC 0300

Tokyo Session

RBA Cash Rate Bullish impact at 130 am GMT with the cash rate steady at 4.35 and Exchange Settlement at 4.25.

London Session No significant news 
New York Session  

Canada Inflation Rate Bearish impact at 1230 pm GMT, with YoY inflation dropping to 2.5 from 2.7.

Canada CPI Trimmedmean Bearish impact at 1230 pm GMT, with YoY decreasing to 2.7, below the 2.8 forecast.

Canada CPI MoM Bearish impact at 1230 pm GMT, with a 0.40 increase.

General Verdict 

The RBAs steady rates triggered a bullish move in the Tokyo session, while Canadian inflation data caused a bearish reaction in the…