Open trading account
It's been almost two years since RBA last adjusted its cash rate. The rate remains at 1.50% after today's meeting and probably will for some time to come. Their outlook hasn't changed much. They're still expecting wages and inflation to pick up. Main risks being international trade wars, (lack of) domestic household consumption and debt levels. AUD/USD is up about 50 pips since the release, after not-so-dovish message by the bank.
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No changes from RBA, holiday trading in European morning
RBA keeps monetary policy stance firmly in neutral mode, with cash rate still at the record low of 1.50%. The U.S. dollar part of equation is currently driving AUD/USD, which made a marginal new low shortly after Europe opened for business. Or for the observance of Labour Day, that is. The holiday is likely to keep price action contained until afternoon.
RBA upbeat at today's decision
RBA held cash rate once again at the record low of 1.50%. Rate statement, however, was fairly upbeat. The bank strengthened its view on inflation and also softened its language on exchange rate, cutting both paragraphs in half. This should be enough to keep dip buyers involved.
Made up my mind about AUD
I have made up my mind about the Australian dollar
With a little more than 24 hours to go before the RBA decision of a rate cut or not,
I have started shorting everything Aud,
long Gbp/Aud and Eur/Aud, short Aud/Usd, Aud/Jpy, and Aud/Nzd
The way I see it is this:
there will be a lot of anticipation of a potential rate cut building up,
a lot of traders are expecting a rate cut and there will be bursts of selling and short-panick around
I may close my positions before the announcement if I have ma…
With a little more than 24 hours to go before the RBA decision of a rate cut or not,
I have started shorting everything Aud,
long Gbp/Aud and Eur/Aud, short Aud/Usd, Aud/Jpy, and Aud/Nzd
The way I see it is this:
there will be a lot of anticipation of a potential rate cut building up,
a lot of traders are expecting a rate cut and there will be bursts of selling and short-panick around
I may close my positions before the announcement if I have ma…