Commodity currencies take a step back

Commodity-related currencies have not performed well so far today even as the US dollar index is only slightly changed. Major weakness came after RBA’s governor Philip Lowe signalled that a rate cut is on the table if the labour market conditions deteriorate. As a result, the Aussie is falling against the US dollar as much as 1.4% at the time of writing. Other commodity-related currencies are also on the back foot: NZD is losing 0.6%, CAD is falling 0.5% while NOK is going down 0.3%. Note that NZ traders should keep a close eye on a milk auction this afternoon which could shake the NZ dollar too.
Daily summary: DE30 recoups losses during BlueMonday
Technical alert: AUDUSD
Platinum test the resistance zone
Economic calendar: Lazy start to a busy week
Morning wrap
When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses.