We would like to draw your attention to AUD/USD
currency pair on the H4 chart. US financial markets were closed
yesterday in observance of Presidents’ Day. Today the trading is
performed on a regular basis, but there is no special US macroeconomic
statistics released today. Monetary policy meeting minutes were
published early this morning by the Reserve Bank of Australia (RBA). We
deem that no significant information was announced; anyway this was
precisely what has pushed the Aussie higher. According to previous
surveys, more than 60% of investors expected the RBA to cut again the
rate to 2% at the next meeting scheduled on the third of March.
In our opinion, it is now difficult to state certainly whether it
happens or not. Especially that the most important Australian economic
data will be released only on the second of March, just before the RBA
meeting, and before that less significant statistics will be published.
The lower the probability of a rate cut, the more chances has the
Australian dollar to strengthen.
Read more at Click here / www.trade4x.net
Read more at Click here / www.trade4x.net
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