Is Australia Ready for More Hikes?

Is Australia Ready for More Hikes?

What will happen?

The Reserve Bank of Australia (RBA) will release its interest rates and make a statement on August 2, 7:30 GMT+3. The statement is a detailed economic outlook that gives projections for the following months. That’s why this is Australia’s most significant economic release.

How will the AUD react?

As the world is under high inflation, currency prices are influenced by rate hikes before the hikes actually happen. Only a bigger-than-expected rate increase may become a potent bullish factor for the AUD.

Last time, the RBA raised the rate by 50 basis points as expected. The AUDUSD pair lost 1300 points after the release. With a 1-lot trade, you would have earned up to $1300. 


How to trade on the RBA statement?

  • If the bank raises the rate more than expected, the AUD will soar.
  • Otherwise, the AUD will likely fall.
  • Beware of trading before the news come out because volatile price swings may lead you to severe losses.

Check the Economic Calendar.

Instruments to trade: AUDUSD, AUDJPY, AUDCAD.

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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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