Hi Everyone,
This week the focus starts on the Asia-Pacific region with the Reserve Bank of Australia releasing their September minutes at 01:30 GMT on Tuesday morning (or Monday night at 9:30pm New York time). According to DailyFX Currency Analyst, the Australian dollar may be poised to sell off going into the central bank announcement. Below is an excerpt from his article:
The greenback strengthened against three of the four counterparts, led by a 0.51 percent decline in the Australian dollar, and the high-yielding currency may weaken further over the next 24-hours of trading should the Reserve Bank of Australia show a greater willingness to ease monetary policy further. Indeed, the RBA Minutes may highlight a weakening outlook for the $1T economy as China – Australia’s largest trading partner – faces a greater risk for a ‘hard landing,’ and the central bank may sound increasingly cautious this time around as Governor Glenn Stevens sees the resource boom coming to an end over the next 12 to 24 months. In turn, market participants are pricing a 45 percent chance for...
This week the focus starts on the Asia-Pacific region with the Reserve Bank of Australia releasing their September minutes at 01:30 GMT on Tuesday morning (or Monday night at 9:30pm New York time). According to DailyFX Currency Analyst, the Australian dollar may be poised to sell off going into the central bank announcement. Below is an excerpt from his article:
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The greenback strengthened against three of the four counterparts, led by a 0.51 percent decline in the Australian dollar, and the high-yielding currency may weaken further over the next 24-hours of trading should the Reserve Bank of Australia show a greater willingness to ease monetary policy further. Indeed, the RBA Minutes may highlight a weakening outlook for the $1T economy as China – Australia’s largest trading partner – faces a greater risk for a ‘hard landing,’ and the central bank may sound increasingly cautious this time around as Governor Glenn Stevens sees the resource boom coming to an end over the next 12 to 24 months. In turn, market participants are pricing a 45 percent chance for...
Read the full article at DailyFX.com