Now traders follow the economic events with new vision as inflation in the US seems like decreasing. Let’s see what releases will influence the market due to that factor.
Is Australia Ready for More Hikes?
Information is not investment advice
What will happen?
The Reserve Bank of Australia (RBA) will release its interest rates and make a statement on August 2, 7:30 GMT+3. The statement is a detailed economic outlook that gives projections for the following months. That’s why this is Australia’s most significant economic release.
How will the AUD react?
As the world is under high inflation, currency prices are influenced by rate hikes before the hikes actually happen. Only a bigger-than-expected rate increase may become a potent bullish factor for the AUD.
Last time, the RBA raised the rate by 50 basis points as expected. The AUDUSD pair lost 1300 points after the release. With a 1-lot trade, you would have earned up to $1300.
How to trade on the RBA statement?
- If the bank raises the rate more than expected, the AUD will soar.
- Otherwise, the AUD will likely fall.
- Beware of trading before the news come out because volatile price swings may lead you to severe losses.
Check the Economic Calendar.
Instruments to trade: AUDUSD, AUDJPY, AUDCAD.
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