AUD to come under selling pressure if the RBA announces today that it delays tapering

Author: Eamonn Sheridan | Category: Central Banks

The Reserve Bank of Australia monetary policy meeting is Tuesday 3 August 2021, Governor Lowe's statement due at 0430 GMT. 

  • AUD will come under selling pressure if the RBA announces that it delays the tapering in weekly bond purchases beyond September
  • The correlation of the AUD with iron ore and the CSI-300 is far from statistically relevant but the bearish seasonality is overwhelming and market ructions in China suggest it is too soon to try and pick a bottom in the AUD in the short-term

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