
The Reserve Bank of Australia (RBA) will release its interest rates and make a statement on August 2, 7:30 GMT+3.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT. The release takes place every first Tuesday of the month. The cash rate is charged on overnight loans between financial intermediaries. This is a major event for AUD.
Economic growth in the Asia-Pacific region is slowing as export demand falls in line with the disastrous downturn in major European economies. However, the post-COVID recovery in domestic demand was largely flat, so overall growth slowed only marginally. This is especially noticeable in Australia, India, Japan, Indonesia, and the Philippines, where growth is more driven by domestic demand. Inflation has risen all over the region, mainly due to higher energy and commodity prices, but not as much as in the US and Europe.
The RBA raised the interest rate in May and plans to do it again this month. The next increase will be announced on July 5. The RBA’s governor, Philip Lowe, said that issues of raising the interest rate by 25-50 basis points are being discussed among the Board of Directors.
The previous release’s result was 0.85%, and AUDUSD predictably jumped 1.02%. If you traded one lot, your potential profit could be $717.
If the actual numbers are bigger than the forecasted ones, it’s good for the currency. Moreover, the AUD will get higher if the RBA is optimistic about the country’s economy.
Check the Economic Calendar.
Instruments to trade: AUDUSD, AUDCHF, AUDNZD, AUDJPY.
The Reserve Bank of Australia (RBA) will release its interest rates and make a statement on August 2, 7:30 GMT+3.
The Federal Open Market Committee (FOMC) will update the Federal Funds Rate and make a statement about future monetary policy on July 27 at 21:00 MT.
The Australian Bureau of Statistics will announce the Consumer Price Index (CPI) on Wednesday, July 27, at 04:30 MT.
The United States will publish the Inflation Rate and Core Inflation Rate, also known as US CPI and Core CPI, on August 10 at 15:30 GMT+3.
The United States Bureau of Labor Statistics will release monthly average hourly earnings, non-farm employment change (NFP), and unemployment rate on August 5, 15:30 GMT+3.
The Bank of England (BoE) will share its Official Bank Rate and make a statement on monetary policy on August 4, 14:00 GMT+3.
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