What will happen? Reserve Bank of Australia will announce the interest rate at 07:30 (GMT+3) on Tuesday, September 7…
How Australia’s central bank will impact AUD?
What will happen?
The Reserve Bank of Australia will announce its policy decision on May 4 at 7:30 MT (GMT+3). It’s one of the most important drivers of the Australian dollar. Last time, the central bank left everything unchanged and claimed that it would not increase interest rates until at least 2024 when Australia reaches its target employment and inflation of 2-3%. Thus, analysts widely expect no changes this time as well, all attention will be to projections.
How to trade on RBA statement?
Follow the RBA’s meeting and/or monitor news during and after it.
- If the RBA hints to raise rates or cuts bond-buying, the AUD will strengthen;
- If the RBA leaves everything unchanged and gives negative projections, the AUD may drop.
Instruments to trade: AUD/USD, AUD/NZD, AUD/JPY
Australia will release the employment change and unemployment rate on August 19, at 04:30 MetaTrader time (GMT+3).
Our analyst discusses the latest news and shares his trade ideas on gold, EUR/USD, and S&P 500. Jump in!
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