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What Will Australian Cash Rate Bring?

What Will Australian Cash Rate Bring?

Information is not investment advice

What will happen?

The Reserve Bank of Australia will make a statement about the cash rate on April 5, at 07:30 MT. This  release comes out on every first Tuesday of a month. The cash rate is charged on overnight loans between financial intermediaries. This is a major event for AUD.

Possible AUD moves

According to the RBA last statement, the cash rate might rise if not for the obstacles that delayed it. In particular, the war in Ukraine brings more uncertainty. Despite the Australia’s economy remains resilient, inflation rose faster than the RBA expected. Nevertheless, it remains lower than in many other countries – now it’s 4%. More hawkish steps are planned for 2023.

After the March 1 release, the AUD went up. That day AUDUSD jumped by about 0.50%.

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How to trade on the Australian cash rate release?

If the Actual reading is better than the Forecast, then it’s good for the currency. Therefore, a surprise rate hike will propel AUDUSD. Moreover, the AUD will get higher if the RBA is optimistic about the national economy. Conversely, if the RBA is cautious and doesn’t hint at the upcoming rate increases, the AUD will move down. Overall, not only Australia but also the other countries contemplate hawkish steps. Thus, the upcoming release is essential as the RBA may offer clues on its future decisions.

Check the Economic Calendar.

Instruments to trade: AUDUSD, AUDCHF, AUDNZD, AUDJPY

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How Will US PMIs Affect the USD?

The US Markit will publish Flash Manufacturing and Flash Services PMIs (purchasing managers' indices) on June 23 at 16:45 GMT+3.

Will Fed Chair Powell Move the USD?

The Fed Chair Jerome Powell will testify on the Semi-Annual Monetary Policy Report before the House Financial Services Committee on June 22-23 at 17:00 GMT+3.

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