Will RBA press AUD down again?
The Reserve Bank of Australia will make a rate statement on March 2, at 5:30 MT time.
Will the RBA support the AUD?
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.
- If the RBA’s tone is hawkish, the AUD will rise.
- If the RBA’s tone is dovish, the AUD will fall.
Similar
NFP is coming!
Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.
Rise of NZD, dovish Fed, and stocks indices' sell-off
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.
Latest news
NVIDIA beat earnings forecasts!
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC may increase oil supply at meeting on March 4
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
Risk on is back on market
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.
Deposit with your local payment systems
