The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
How will the RBA affect the aussie?
The Reserve bank of Australia (RBA) will publish its statement and announce the official rate on September 3, at 7:30 MT time.
The market is assessing the chance of a rate cut during the upcoming meeting. Analysts are sure that the central bank of Australia will ease its monetary policy soon due to the global economic instability. However, not all of them expect September's meeting to be the crucial one for the RBA. Those who don't see a rate cut in September suggest waiting for more indicators and negative news. This data will help the policymakers of the bank to determine their next step. Others think that the Reserve bank of Australia should cut the rate immediately due to the global uncertainties. Anyway, the tone of the RBA Governor Philip Lowe will be in focus, as traders will be looking for hints on the future rate decisions.
• If the RBA is hawkish, the AUD will rise;
• If the RBA is dovish, the AUD will fall.
April seasonal patterns weren’t supposed to work, but somehow they did. Even a strong fundamental issue such as the global recession amid the coronavirus couldn’t overwhelm it. That’s why May seasonal patterns may work as well.
Australia will publish an update on employment figures on March 19, at 2:30 MT time.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.