Is the RBA to hold the rate?

Is the RBA to hold the rate?

The Reserve Bank of Australia’s release of the interest rate is at 5:30 MT on November 5. There are strong opinions among the analysts that there will be no rate cut announcement on November 5 meeting, so the market expects it to stay at 0.75%. Although the Australian financial authorities previously expressed their will to stimulate the economy and lift the inflation rate through rising wages, it has been outlined that households and savers would suffer more if the rate was lowered. For this reason, no change is expected this time, but let’s keep our eyes open.

  • If the RBA is hawkish, the AUD will rise
  • If the RBA is dovish, the AUD will fall.

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Will USD Stop Falling Today? Market Wrap
Will USD Stop Falling Today? Market Wrap

The US dollar is heading to close the seventh day in the red as it remains under selling pressure. The US data at 15:30 GMT+3 (jobless claims and Philly Fed Manufacturing Index) may support the greenback if it's strong. 

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