RBA rate meeting at bottom of hour
The economists expectations are for a rate cut. Some outliers see a chance of the RBA remaining on hold, so what's the tradable shifts in a nutshell? Here is a rundown of the three main options:
- RBA rate cut and project more cuts to come: Sell AUD
- RBA don't cut rates: Buy AUD.
- If there is mid point, say, RBA rate cut and signal that's the last for a bit, it will come down to the rate language. However, this outcome is the least tradable out of the three and would be my on hold option. e.g. no high conviction trade. RBA Lows is to speak at 09:20 GMT this morning as well, so worth remembering that.
Announcement out in around 20 minutes now....
