Open trading account 
Rate Statements are very common, and most of the time cause minor volatility to the market and then everything is back to normal. This week that is not the case for AUD.
As the Bank of Canada cut their rates unexpectedly last week, there is speculation the RBA may follow suit and announce an unexpected rate cut.
From the commodity corner, the RBNZ has already announced they will no longer raise rates and are even considering cutting. Canada has already cut, so it's natural to assume Australia will follow.
A rate cut will signal strong selling in the AUD. But if rates do not get cut, we will most likely see a rally in the AUD. Regardless of what the statement says (the statement will most likely contain dovish remarks). The reason behind it will be short covering for all speculators front running a rate cut..
As the Bank of Canada cut their rates unexpectedly last week, there is speculation the RBA may follow suit and announce an unexpected rate cut.
From the commodity corner, the RBNZ has already announced they will no longer raise rates and are even considering cutting. Canada has already cut, so it's natural to assume Australia will follow.
A rate cut will signal strong selling in the AUD. But if rates do not get cut, we will most likely see a rally in the AUD. Regardless of what the statement says (the statement will most likely contain dovish remarks). The reason behind it will be short covering for all speculators front running a rate cut..
