Tonight we get at the Minutes behind the most recent RBA decision and this occurs in an environment where the RBA is still expected to cut rates 25 to 50 basis points over the next twelve months; with some expectations that the next 25 bps could come as soon as August. If the Minutes suggest an August cut is not the case I do expect near-term AUD/USD bears to get shaken out in a sharp – but temporary – short squeeze as the pair recalibrates to a rate cut later in the year. Of the reasons I just listed, these are all reasons that I can use to initially identify and then define what the downtrend is. However notice ... (full story)