
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
The RBA’s interest rate is announced on Tuesday at 05:30 MT time.
Instruments to trade: AUD/USD, AUD/NZD, AUD/CAD, AUD/JPY
Since March 2020, the interest rate in Australia has been held steady at 0.1%. The RBA was committed to making the financial environment as favorable as possible. It was trying to make sure that all the lending facilities and credit functioning see no impediment across the country amid the virus struggle and reappearing restrictions. The Board’s plan is to keep the rate at 0.1% until the inflation reaches 2-3%. The latter would indicate that the Australian economy is warmed enough to raise the rates. Therefore, on Tuesday, we are going to see what the economic outlook in the country looks like and whether the recovery is going at an acceptable pace.
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
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