The New Zealand interest rate is announced on Wednesday at 03:00 MT time.
Will the RBA cut its rate?
The Reserve bank of Australia will announce its interest rate and release a statement on July 2, at 07:30 MT time.
Most of the analysts predict a rate cut to 1% this time. The market has already started to price in the anticipated decision by the bank. In addition, we need to pay attention to the comments by the RBA governor Philip Loe, as he may throw hints on the future path of the monetary policy by the bank. The Australian dollar may strengthen if the rate cut does not happen and the tone of the statement is optimistic. That would mean that the economy is in good conditions and do not need the additional stimulus. On the other hand, we may see the fall of the aussie.
• If the RBA is hawkish, the AUD will go up;
• If the RBA is dovish, the AUD will go down.
The Australian Monetary Policy Meeting Minutes are announced on Tuesday at 04:30 MT time.
The Reserve Bank of New Zealand made announcements regarding its monetary policy. The NZD/USD dropped.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.