Have a look at the key financial instruments on Monday, February 28. Geopolitics is currently on all news frontlines. Western nations escalated sanctions on Russia for the invasion of Ukraine.
Will the RBA Rate Statement push the Australian dollar up?
The Reserve Bank of Australia’s Rate Statement is at 05:30 MT time on December 3.
The Reserve Bank of Australia has been keeping the interest rate at 0.75% since October. From a historical perspective, it is a record low. From the operational perspective, the Bank needs time to observe the results of the three rate cuts delivered in June, July, and September this year. Hence, the analysts do not expect another cut on December 3. However, the policymakers made it clear that they would continue the monetary ease if the country does not reach full employment, sustainable growth, and inflation targets. Otherwise, if the Australian economy shows resilience in the context of the global economic slowdown, the rate will not be changed, and the AUD will rise.
- If the RBA is hawkish, the AUD will rise;
- If the RBA is dovish, the AUD will fall.
The United States will publish Flash Manufacturing and Services PMIs on Tuesday at 16:45 GMT+2.
Reserve Bank of New Zealand (RBNZ) will reveal Official Cash Rate and make a statement about monetary policy on October 6, 04:00 GMT+3.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.