With Australian and Chinese markets closed, liquidity is markedly down and the AUD/USD has gained almost a cent on the day after various commentators emerged to throw their tuppence-happenny worth into the interest rate debate. The Australian Financial Review and MacQuarie Bank are both of the opinion that the RBA will hike rates by 25bps tomorrow whereas most other commentators feel that such a move would be much too early.
Thin Asian markets have driven the AUD/USD 100 pips higher already today but this move is starting to feel exhaustive to me and I think we may not be too far away from a major top!
