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We have seen some buying interest in AUDUSD on Friday. The pair is expected to go higher in coming weeks as I am expecting some retracement after an impulsive move down.
We have couple of important news lined up in coming week: RBA interest rate decision & 3rd Quarter GDP. Last month RBA kept interest rates unchanged at 1.5% which was in line with market forecast. Moreover, RBA stated in their statement that they are satisfied with recent data and that it is consistent with sustainable growth in the economy. The members were also optimistic regarding the rate of inflation saying it would meet their target over time. The central bank expects the economy to grow mildly, before gradually strengthening and inflation is expected to rise gradually over the next two years. Overall there is lot of optimism from officials.
We have couple of important news lined up in coming week: RBA interest rate decision & 3rd Quarter GDP. Last month RBA kept interest rates unchanged at 1.5% which was in line with market forecast. Moreover, RBA stated in their statement that they are satisfied with recent data and that it is consistent with sustainable growth in the economy. The members were also optimistic regarding the rate of inflation saying it would meet their target over time. The central bank expects the economy to grow mildly, before gradually strengthening and inflation is expected to rise gradually over the next two years. Overall there is lot of optimism from officials.
