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RBA Rate Decision

The Aussie dollar is set to have a good week with a barrage of data out of China coming in better than expected.

There are two major risk events on the calendar over the next couple of days. However, the consensus is that they won’t get in the way of the continued strengthening of the Aussie.

As a measure of recovery and risk sentiment, AUDUSD has not only recovered completely since the early-March drop from COVID but has eked out a small gain.

The question is whether it can hold onto that support level through the upcoming RBA policy meeting and release of GDP figures.

Central Banks Remain Less Important

The consensus is unanimous that the RBA will keep the interest rate at 0.25%, without any change in the asset-buying program.

Economists said they expect that Governor Lowe will have a more upbeat message as they assess the reopening of Australia’s economy.

The only change they anticipate is a small tweak to ancillary programs. These include support for job seekers and it&...


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