Happy Wednesday, traders! We went through the Internet and found the best news for you, take a look!
Trade on the comments by the RBA
The Reserve bank of Australia is scheduled to make its rate statement on February 5 at 05:30 MT time.
We expect the central bank of Australia to keep its interest rate unchanged at a record low of 1.5%. However, the RBA may provide some hints on the future path of its monetary policy. Previously, the RBA suggested the possibility of the rate cut. However, the recent comments by the RBA members provided the possibility of the rate hike. Up to this time, financial markets are unsure about the next step by the RBA concerning its interest rate. If the bank confirms the rumors on the possible rate hike, it will be good news for the AUD.
• If the RBA is hawkish, the AUD will go up;
• If the RBA is dovish, the AUD will go down.
This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.
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.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.