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The RBA has up to recently deployed tactics such as verbal intervention to bring down to the AUD exchange rate, Their goal is to bring down the rate in order to stimulate their economy.
Recently however, the RBA posted an inflation rate of 3%, The highest it has been in 2 and a half years. At this point, their objectives are diverging and they will have to make a decision which way to focus. If they focus on inflation, they would be hinting at raising rates, which of course is bullish for the currency, on the other hand, if the focus remains on their economy, they may continue with verbal intervention attempts to lower the exchange rate.
A rate cut at this point may be completely out of the question. With inflation rates as high as they are, it would not be a sound economic decision.
This week has several data events which will provide clues as to any changes in AUD monetary policy, I will be closely monitoring the AUDUSD and AUD crosses. If a significant change is made, it can potentially lead to good trades in the follow through
Recently however, the RBA posted an inflation rate of 3%, The highest it has been in 2 and a half years. At this point, their objectives are diverging and they will have to make a decision which way to focus. If they focus on inflation, they would be hinting at raising rates, which of course is bullish for the currency, on the other hand, if the focus remains on their economy, they may continue with verbal intervention attempts to lower the exchange rate.
A rate cut at this point may be completely out of the question. With inflation rates as high as they are, it would not be a sound economic decision.
This week has several data events which will provide clues as to any changes in AUD monetary policy, I will be closely monitoring the AUDUSD and AUD crosses. If a significant change is made, it can potentially lead to good trades in the follow through
