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.
Will the AUD retest its recent highs?
Information is not investment advice
The Reserve Bank of Australia will post a rate statement, which contains an update on the interest rate on October 6, at 6:30 MT time.
Instruments to trade: AUD/USD, AUD/NZD, AUD/JPY
The Reserve Bank of Australia is expected to keep the interest rate at 0.25%. However, the current "wait and see" attitude of the RBA may be interrupted soon, according to Westpac. One of the leading analytical agencies has changed its forecasts and now projects a rate cut by 15 basis points during November's meeting. Thus, it is highly recommended to monitor the statement for the potential dovish hints. The combination of a stronger dollar and bearish forecasts have already pulled AUD/USD from its highest level since December 2018. Will we see further falls?
- If the RBA keeps its attitude unchanged, the AUD will strengthen;
- If the RBA is dovish, the AUD will weaken.
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