What news has been happening in the crypto market this week?
Reserve Bank of Australia will move the AUD
Australia is going through a difficult period. The political leadership of the country has changed as Malcolm Turnbull lost the seat of Prime Minister. Although experts do not think that these events will have serious consequences for the market, the Australian central bank will be expected to lend some support to the country’s economy.The Reserve Bank of Australia will announce its rate decision at 07:30 MT time on September 4. At its last meeting the RBA, confirmed that the next change in the cash rate will be an increase. However, the central bank doesn’t plan to raise the rate anytime soon. According to the central bank, keeping the cash rate at the current level of 1.5% helps to reduce the unemployment rate and lift wage growth. Traders will focus their attention on the RBA statement and its comments about Australian economic outlook.
• If the RBA is positive about Australia’s economic prospects, the AUD will gain.
• If the RBA stresses political risks or sounds cautious about the economy, the AUD will decline.
A lot of political uncertainties are driving the British pound down.
The United States anticipates the release of headline and core durable goods orders on May 24, at 15:30 MT time.
On Monday, gold declined notwithstanding a lower American currency because data underpinned hopes for a Fed interest rate lift…
On Friday, European stock indices fluctuated at the beginning of the trading session…
The Reserve Bank of New Zealand will hold a meeting at 00:00 MT time on August 9.