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Trading the RBA Interest Rate Decision
Recent Australian economic developments to take in consideration: The Australian unemployment rate rose to 5.3% in September. The local economy lost 9700 jobs in the same month. Australian GDP grew at a pace of 1.2%. Latest data shows that Australia reported a trade surplus of $1.8 million. The number of new loans granted in August fell by 1%. The Westpac consumer sentiment has risen 8.1% recently. China, which is one of Australia’s largest trading partners, has also slowdown in growth in light of the global turmoil. Market reaction to last month’s RBA rate decision: At its last meeting, the RBA kept rates ... (full story)