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Traders prepare for the RBA decision. What levels are in play for the AUDUSD?
Do they cut? They should..... The RBA is to announce their interest rate decision at 12:30 AM ET/0430 GMT with the economists split. On Bloomberg 12 of 27 economists expect a cut to 1.75%. That is pretty much split down the middle. Recall, the CPI inflation data last Wednesday came out way lower than expectations -0.2% for 1Q vs +0.3% estimate). The YoY also was much lower at 1.3% vs. 1.7%. When the CPI target is 2.0%, AND the currency is 10% off the low AND China is still a wild card AND rates are 2% - much higher than the rest of the advanced economies around the world - they have room to cut. There may be risk of ... (full story)
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