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Tomorrow the Reserve Bank of Australia convenes to decide where they will set the interest rate. They’ll also discuss potentially expanding their asset purchase program.
The meeting happens in the middle of some significant risk events for the markets.
It’s just ahead of the US election and in the middle of key data releases that would otherwise give us better insight into what to expect from the RBA.
It isn’t until Friday, well after the meeting, that we get the latest quarterly assessment of the economy from the RBA itself.
Consequently, the consensus on what to expect is a bit shaky. This means we could have some extra volatility in the Aussie pairs immediately after. And this could potentially for quite a while after, as the market processes all the other risk events later.
Australian stocks have had a more robust performance lately as the rest of the world has sunk into second-wave covid pessimism.
Even if the situation in Australia is better, commodity prices ar...
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