RidetheMacro| AUDUSD Crawls downwards 📉
AUDUSD Key Points
The Focus will be on the Australian Dollar this week with the Reserve Bank of Australia (RBA) expected to make a major decision on its cash rate. Additionally, the government will release its Annual Budget.
As of Friday’s close, market consensus was evenly split on whether the RBA will adjust the cash rate in October or November. A 50/50 consensus usually means no rate cut.
Rather than another full 25 basis point cut, it seems most market participants are anticipating some version of “micro easing” such as lowering the official cash rate from 25 bps to 10 bps this month or next.
“Consequently, financial markets are now anticipating a roughly 50% chance the RBA will cut the official cash rate before the end of the year,” according to Brian Reid, Treasurer of Newcastle Permanent.
For weeks, investors had been pricing a rate cut to 0.10%, based on forecasting from Westpac. But that changed last week with Westpac economists now forecasting November instead, at the November 3 meeting.
until the Next time.
Ridethemacro
The Focus will be on the Australian Dollar this week with the Reserve Bank of Australia (RBA) expected to make a major decision on its cash rate. Additionally, the government will release its Annual Budget.
As of Friday’s close, market consensus was evenly split on whether the RBA will adjust the cash rate in October or November. A 50/50 consensus usually means no rate cut.
Rather than another full 25 basis point cut, it seems most market participants are anticipating some version of “micro easing” such as lowering the official cash rate from 25 bps to 10 bps this month or next.
“Consequently, financial markets are now anticipating a roughly 50% chance the RBA will cut the official cash rate before the end of the year,” according to Brian Reid, Treasurer of Newcastle Permanent.
For weeks, investors had been pricing a rate cut to 0.10%, based on forecasting from Westpac. But that changed last week with Westpac economists now forecasting November instead, at the November 3 meeting.
until the Next time.
Ridethemacro
Pubblicazioni correlate
Declinazione di responsabilitĂ
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.