UK Prime Minister was placed in the intensive care. As a result, the British pound plummeted dramatically today.
Will the RBA cut its rate?
Information is not investment advice
The Reserve bank of Australia will announce its interest rate and release a statement on July 2, at 07:30 MT time.
Most of the analysts predict a rate cut to 1% this time. The market has already started to price in the anticipated decision by the bank. In addition, we need to pay attention to the comments by the RBA governor Philip Loe, as he may throw hints on the future path of the monetary policy by the bank. The Australian dollar may strengthen if the rate cut does not happen and the tone of the statement is optimistic. That would mean that the economy is in good conditions and do not need the additional stimulus. On the other hand, we may see the fall of the aussie.
• If the RBA is hawkish, the AUD will go up;
• If the RBA is dovish, the AUD will go down.
The US Non-farm payrolls, also known as NFP, will be published on April 3, at 15:30 MT time.
The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
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