So Much News to Follow This Week
Hello, and welcome to the last week of August. We found the best news and collected the most impactful events for you to stay on the top of the market. Let’s go!
Will the Reserve bank of Australia weaken the AUD?
The Reserve bank of Australia will make its statement and announce the official rate on June 4, at 7:30 MT time.
Analysts anticipate the RBA to cut its interest rate from 1.5% to 1.25%. The chances of a rate cut are high as the Australian economy keeps weakening. The slowdown of the GDP growth, falling house prices and the rise of unemployment are among the key reasons behind the anticipated decision by the RBA. Despite the high chances of the rate cut, the central bank may keep its interest rate unchanged. If it happens, the Australian dollar may get positive momentum.
• If the RBA keeps its interest rate unchanged, the Australian dollar will rise;
• If the RBA cut its interest rate, the Australian dollar will fall.
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Fed’s Rate Pause and UK Inflation Slows
Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.
