The RBA decision is announced at 2.30pm local time, 0430GMT, today, so please be very careful if you are leaving orders dangling out there in the market at this time. It can be extremely volatile in the minutes following the announcement (not always, but it can be), and you can make, or lose, a lot in a short period of time.
- Sellers 0.8985/0.9010
- Sellers 0.8950, but stops building above
- Bids 0.8870
- Bids 0.8850
- Bigger bids 0.8800
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I’ve said this a few times already this morning, and I’ll be repeating it again ahead of the announcement; the market is well short of AUD and the danger side for me is the topside. Dips in AUD are going to be bought. The interest rate cut has been widely telegraphed, the market is short ahead of it.
No cut would be a a huge surprise. No … it would be a huge shock. If there is no cut, watch out 0.9100
