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The latest number of new COVID cases detected in the state of Victoria have returned to a fraction of what they were at the peak.
However, expectations indicate that lockdowns in the state that contributes most to Australia’s economy will last for some time. The state’s premier said that another week of data is needed before announcing a roadmap to exit lockdowns on September 6th.
Despite the better news, the evolution of COVID is likely to weigh on the major events that could move the AUD tomorrow.
As a sign of the worsening financial situation in Australia, last Thursday, the RBA bought bonds for the first time since May.
It was a relatively modest AUD2.0B. But, it could be a sign that the reserve bank is more concerned about liquidity and could modify its policy soon.
What We Are Looking For
First up is the RBA’s interest rate meeting. As we anticipated last time, the RBA formally resumed its balance sheet expansion at the last meeting.
The consensus among analysts...
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