The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
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.
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Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.