How to Trade AUD after RBA Statement?

How to Trade AUD after RBA Statement?

What will happen?

The Reserve Bank of Australia will announce its policy statement and gives an economic outlook on July 6 at 7:30 MT. Traders will await this event to get some clues on the outcome of the central bank’s future decisions. More and more banks are moving to a hawkish tone, but the RBA isn’t likely to join them this time as Australia experiences fresh virus outbreaks these days. Unlike the RBA, the Fed has claimed that it would cut bond buys in the coming months and raise rates earlier than initially thought. Therefore, we might expect a further weakening of the Australian dollar and strengthening of the US dollar, of course in case the RBA leaves policy unchanged. 

How to trade on RBA Statement?

  • If the central bank gives a positive economic outlook and hints on policy tightening sooner than 2024, the Australian dollar will rise.
  • If the RBA concerns about economic growth and not ready to shift tightening earlier than 2024, the Australian dollar will fall.

Instruments to trade: AUD/USD, AUD/JPY, AUD/NZD

Check the economic calendar




Latest news

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Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

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What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

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