Currency market on December 6: the NFP Friday
Black Friday for the currency market: the Non-Farm Payrolls are out!
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.
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Currency market on December 6: the NFP Friday
Black Friday for the currency market: the Non-Farm Payrolls are out!
Currency market on December 5
The GBP is surging, the AUD inched lower and the MXN has strengthened
Boris Johnson drives the GBP up
The British pound has rallied versus the other major currencies on the growing expectations that Prime Minister Boris Johnson would win a majority at December 12 election.
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