The Reserve Bank of Australia policy decision is due at 0430 GMT on 3 May. Analyst consensus is for a 15bp rate hike while market pricing has baked in
The Reserve Bank of Australia policy decision is due at 0430 GMT on 3 May. Analyst consensus is for a 15bp rate hike while market pricing has baked in a 15bp hike. The current cash rate target is 0.10%. Its been over 11 years since the last cash rate increase:
There are previews of the RBA in the bullets above. Expectations of a hike are not unanimous amongst analysts.
It was a holiday in Japan, Singapore and China today, which thinned out forex liquidity. There were some sharp moves during the timezone, notably rises for AUD, NZD, and CAD. GBP, EUR and JPY all showed some gains also. There was little fresh news of impact, and thus no clear news-related catalyst to account for the rapid gains for AUD, NZD, & CAD.
US equity index futures also traded higher (overnight US time trade).
www.forexlive.com