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Can you win with the AUD?

Can you win with the AUD?

Information is not investment advice

RBA Rate Statement is released on Tuesday at 07:30 MT time.

Instruments to trade: EUR/AUD, AUD/USD, GBP/AUD, AUD/JPY

Australian monetary policymakers already slashed the interest rate twice in March. By reducing it to the current level of 0.25%, they tried to enhance the domestic economic environment and give it the maximum possibility to recover from the coronavirus. Given the fact that the Chinese economy – the main trade partner of Australia – is already gaining back its powers, Australia should have an improved economic outlook by the time the new rate is released. The Reserve Bank of Australia (RBA) explained that there will be no intention to raise back the rate until inflation gets to 2-3% channel and full employment is reached.

  • If the rate is held steady at the current level, the AUD will rise.
  • Otherwise, it will fall.

Check the economic calendar

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Source: Forexfactory

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Big day for USD

The US NFP will be published on August 7 at 15:30 MT time.

All eyes on AUD

The RBA will make a rate statement on August 4 at 7:30 MT time.

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