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Australian Dollar Could Wilt As Reality of Covid Recession Sinks In
The Australian Dollar faces another week of rather scant domestic economic news which is all-too likely to leave the coronavirus in charge of market direction. Investors can look forward to the minutes of May 5’s monetary policy meeting at the Reserve Bank of Australia but they’ll struggle to add much to the backdrop already in place. The central bank left interest rates on hold at record lows this month, having reduced them sharply in March. However, the markets already know that all stimulus options remain on the table at the RBA, and that it expects this year’s first half to be extremely bleak. Policy makers ... (full story)