Russian-Ukrainian conflict is influencing every economic aspect…
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
The US Bureau of Economic Analysis will publish Core Personal Consumption Expenditures (PCE) on May 27 at 15:30 GMT+3.
The United States will publish the Preliminary GDP on Thursday, May 26, at 15:30 GMT+3.
The Reserve Bank of New Zealand will publish a monetary policy report and make an update on the interest rate on May 25, at 05:00 GMT+3.