United States Institute for Supply Management (ISM) will release services Purchasing Managers' Index (PMI) on October 5, 17:00 GMT+3.
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
The United States will publish the ISM Manufacturing PMI on September 1, at 17:00 MT time (GMT+3).
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