What will happen? The FOMC statement will be published at 21:00 MT (GMT+3) on Wednesday, July 28…
Is all good with the AUD?
What will happen?
The RBA Rate Statement comes on June 1, at 07:30 GMT+3.
The Reserve Bank of Australia kept the rate steady at 0.1% during the last session. It’s planning to keep it there unless and until the actual inflation reaches 2-3% and the labor market corrects to maximum employment. Generally, the bank is committed to maintaining the financial conditions in the country as supportive as possible to ensure nothing stands in the way of the economic recovery.
How to trade the RBA Rate?
We don’t trade the rate itself as it’s likely to be kept unchanged. Rather, we’re going to trade the details of the Monetary Policy that the RBA will share. Generally, if they are largely optimistic, the AUD is likely to rise. Otherwise, a weak domestic economic outlook may press on the Australian dollar.
- Optimistic/hawkish tones support the AUD;
- Pessimistic/dovish tones make the AUD lose value.
Instruments to trade: AUD/USD, AUD/CHF, AUD/NZD, AUD/JPY
What will happen? US consumer confidence will be announced at 5:00 MT (GMT+3) on Tuesday, July 27…
The OPEC meeting and the US Nonfarm Payrolls rocked the market last week. The market is torn between optimism about the global economic recovery and concerns about the new coronavirus strains.
The Reserve Bank of Australia (RBA) will hold a meeting and announce changes to the monetary policy on August 3, at 07:30 MT time (GMT+3).
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.