Will the AUD retest its recent highs?

Will the AUD retest its recent highs?

The Reserve Bank of Australia will post a rate statement, which contains an update on the interest rate on October 6, at 6:30 MT time. 

Instruments to trade: AUD/USD, AUD/NZD, AUD/JPY

The Reserve Bank of Australia is expected to keep the interest rate at 0.25%. However, the current "wait and see" attitude of the RBA may be interrupted soon, according to Westpac. One of the leading analytical agencies has changed its forecasts and now projects a rate cut by 15 basis points during November's meeting. Thus, it is highly recommended to monitor the statement for the potential dovish hints. The combination of a stronger dollar and bearish forecasts have already pulled AUD/USD from its highest level since December 2018. Will we see further falls?

  • If the RBA keeps its attitude unchanged, the AUD will strengthen;
  • If the RBA is dovish, the AUD will weaken.

Check the economic calendar

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The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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