Don’t waste your time – keep track of how NFP affects the US dollar!

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High chances of a rate cut by the RBA

High chances of a rate cut by the RBA

Information is not investment advice

The Reserve bank of Australia will release the rate statement and announce the update on the interest rate on February 4, at 5:30 MT time. 

Instruments to trade: AUD/USD, AUD/JPY, AUD/CHF, AUD/NZD

The market expects the RBA to cut its interest rate from 0.75% to 0.5% during the February meeting. What may drive the central bank to do so? Firstly, it is the inflation rate. Despite an upbeat CPI released last week, the level remains below the RBA target. Thus, the bank may need to take accommodative measures. At the same time, the unemployment level remains pretty high at 5.1%. Let's not forget other risks including bushfires in Australia and coronavirus. Both of them are proven to have a great impact on the economy. That is why the Australian regulator may take some serious steps to support the economy of the country. As a rule, the shift towards more easing will weaken the Australian dollar. 

• If the RBA cuts its interest rate, the AUD will fall;

• If the RBA keeps the interest rate unchanged, the AUD will rise. 

Check the economic calendar 

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USD Moves Weird Ahead of CPI

The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.

The NFP Release: One More Punch for USD?

The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.

The UK Speeds Up Tightening

The Bank of England (BoE) will share its Official Bank Rate and make a statement on monetary policy on August 4, 14:00 GMT+3.

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