Welcome to Tuesday!
An opportunity to trade the AUD.
The Reserve bank of Australia (RBA) is going to deliver its statement at 5:30 MT time on November 6.
The statement will contain an outlook on the monetary policy of the country and offer clues on future rate decisions. For now, AUD/USD has been trading within a long-term downward channel. That is why it is so important to follow RBA’s comments.
• If the RBA comments are hawkish, the AUD will rise.
• If the RBA comments are dovish, the AUD will fall.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…