Next week is about Aussie and NZD dollars both rate decisions and both expected to remain the same.
"Aussie is clearly well underpinned now, but is there anything coming up that’s likely to push it much higher? Well, probably not. The meat of this week for the currency will come on Tuesday when the Reserve Bank of Australia next sets monetary policy.
It's not expected to alter current record-low interest rates – on hold at 1.5% since August. But it may return market focus to the domestic Australian economy. There, consumer demand and pricing levels look a lot less healthy than does the white-hot export sector. RBA Governor Phillip Lowe will speak in Sydney the following day."
Last week's huge push on Aussie was fueled by record exports however it remains questionable how real local economy is doing and from what I have been reading not so good so I anticipate dovish RBA since I don't think its in their interest to push AUD higher.
Next week after rate decision we could finally see correction waves perhaps to 75
"Aussie is clearly well underpinned now, but is there anything coming up that’s likely to push it much higher? Well, probably not. The meat of this week for the currency will come on Tuesday when the Reserve Bank of Australia next sets monetary policy.
It's not expected to alter current record-low interest rates – on hold at 1.5% since August. But it may return market focus to the domestic Australian economy. There, consumer demand and pricing levels look a lot less healthy than does the white-hot export sector. RBA Governor Phillip Lowe will speak in Sydney the following day."
Last week's huge push on Aussie was fueled by record exports however it remains questionable how real local economy is doing and from what I have been reading not so good so I anticipate dovish RBA since I don't think its in their interest to push AUD higher.
Next week after rate decision we could finally see correction waves perhaps to 75
In trading, you have to be defensive and aggressive at the same time
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