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DAY 2 - RBA INTEREST RATE STATEMENT

Majority of analysts expects RBA to cut interest rate further from 2.25% to 2.0% tomorrow. Moreover, In last few interest rate statements we have seen dovish tone from RBA Governor showing concern that the Aussie Dollar exchange rate is still relatively high and it need to decline further to help boost exports.
From technical perspective, AUDUSD is consolidating in a 280 pip range since start of February 2015. A bearish breakout of this consolidation zone could pave way for 0.7500 level. However…
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RBNZ MONETARY POLICY STATEMENT


The slam-dunk of monetary events is supposed to occur later today. The Reserve Bank of New Zealand is expected to tighten interest rate policy. It is the key event in a relatively quiet week for G10 economies. To many the biggest event risk is the Governor Wheeler and company will do nothing in upcoming monetary policy statement. The RBNZ has held the OCR (overnight cash rate) at +2.5% for three-years now, and in that time, not at all dissimilar to other developed countries, Kiwi monetary polic…
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