The Australian dollar is climbing

The Australian dollar is climbing ahead of the Reserve Bank of Australia’s Tuesday meeting.

The Aussie dollar is up by 0.4% at .7521 per US dollar as of 7:43 a.m. ET.

At Tuesday’s meeting, the RBA is expected to hold its key rate at 1.50%. It’s been on hold for nine months.

As for the rest of the world, it’s pretty quiet out there as of 7:46 a.m. ET. Markets around much of the world are closed for May Day:

  • The US dollar index is little changed at 99.10 ahead of several data points. Personal income and spending will be out at 8:30 a.m. ET, while Markit US manufacturing and ISM manufacturing will be out at 9:45 and 10 a.m. ET, respectively.
  • The Japanese yen is down by 0.2% at 111.72 per dollar. Japan’s manufacturing PMI came in at 52.7 for April, below expectations of 52.8, and below the prior reading of 52.8.
  • Bitcoin touched a fresh all-time high. The cryptocurrency climbed above the $US1,400 mark for the first time ever, but it has since pared those gains. As of 7:17 a.m. ET it trades up 4.1%, or $US54.55, at $US1,370 a coin.

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