USD is at two-week low, gold rises
Here are a short wrap of the latest news and the tech analysis of EUR/USD, AUD/USD, and gold.
Can you win with the AUD?
RBA Rate Statement is released on Tuesday at 07:30 MT time.
Instruments to trade: EUR/AUD, AUD/USD, GBP/AUD, AUD/JPY
Australian monetary policymakers already slashed the interest rate twice in March. By reducing it to the current level of 0.25%, they tried to enhance the domestic economic environment and give it the maximum possibility to recover from the coronavirus. Given the fact that the Chinese economy – the main trade partner of Australia – is already gaining back its powers, Australia should have an improved economic outlook by the time the new rate is released. The Reserve Bank of Australia (RBA) explained that there will be no intention to raise back the rate until inflation gets to 2-3% channel and full employment is reached.
- If the rate is held steady at the current level, the AUD will rise.
- Otherwise, it will fall.
Source: Forexfactory
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Forex today: gold, AUD/USD, and USD/JPY
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Will the RBA support the AUD?
The RBA will announce its Cash Rate on April 6, at 07:30 MT time.
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Strong USD is back
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NZD will be driven by RBNZ
The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.
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