Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
Will the AUD rise on a steady rate?
Information is not investment advice
RBA will announce its interest rate on Tuesday at 07:30 MT time.
Instruments to trade: AUD/USD, AUD/NZD, AUD/CHF, EUR/AUD
On March 19, the interest rate of Australia was reduced to 0.25%. Since then, it was kept steady. The Reserve Bank of Australia informed that there will be no intention to increase the rate until there is full employment, a 2-3% inflation rate, and other indications that the economy is recovering. That means the rate will be kept steady in the nearest future as the virus fallout has just started to be visible. Although certain economic improvements are reported in Australia, the prevailing expectation is that this quarter will bring a severe contraction in the economy and the jobless rates will surge. Hence, we will look at the tone of the RBA press conference to gather details of the outlook for the AUD.
- If the bank’s tone is hawkish, the AUD will rise.
- If the bank’s tone is dovish, the AUD will fall.
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Crypto Market Changes The Trend
Happy Tuesday, dear traders! Here’s what we follow:
The US Labor Market And Real Estate Market Are In Focus This Week
Labor Market and Real Estate Market data was published yesterday. Markets are slowing down, so the economy is in recession. Today the traders should pay attention to the Retail sales in Canada.
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