Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Will the RBA Rate Statement push the Australian dollar up?
Information is not investment advice
The Reserve Bank of Australia’s Rate Statement is at 05:30 MT time on December 3.
The Reserve Bank of Australia has been keeping the interest rate at 0.75% since October. From a historical perspective, it is a record low. From the operational perspective, the Bank needs time to observe the results of the three rate cuts delivered in June, July, and September this year. Hence, the analysts do not expect another cut on December 3. However, the policymakers made it clear that they would continue the monetary ease if the country does not reach full employment, sustainable growth, and inflation targets. Otherwise, if the Australian economy shows resilience in the context of the global economic slowdown, the rate will not be changed, and the AUD will rise.
- If the RBA is hawkish, the AUD will rise;
- If the RBA is dovish, the AUD will fall.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...
Canada will publish the employment change and the unemployment rate on July 10, at 15:30 MT time.