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Aussie and Kiwi: Brothers in Focus
Monetary Policy Meeting Minutes from the RBA is today’s economic calendar highlight, with an expectantly dovish market hanging on the words of Governor Glenn Stevens. At the last RBA meeting earlier this month, the bank left interest rates unchanged at 1.75% and expressed concerns about global economic growth and uncertainty following the still fresh Brexit vote. But while the Aussie has rallied on a no cut since the meeting, it hasn’t done any technical damage because everyone knows the cut is most likely to come in August. The higher time frame AUD/USD trend line that we were looking to buy into has continued ... (full story)