Forex Zone (Forex Zone)
Czech markets  |  February 04, 2013 10:00:18

Australia will reduce interest rate?

Tomorrow will be the first time this year meet Australia's central bank (RBA). RBA cut rates together last year by 1.25%. After the last, the December rate reduction is currently 3%. Australia made ??the following steps mainly due to slowing job market and also because of the prices of some commodities exports.

Market expectationsThat the RBA tomorrow will further reduce the rate is only 18%. In other words, rate reduction would be a surprise. But some analysts cautioned that inflation does some sectors of the Australian economy are weaker, making room for easing monetary policy exists.

We will monitor the RBA decision not so much because we want to trade AUD, but because of their view on the global economy. While a surprise and reduces the rate, so it could be a signal for the ECB, in our view, will soon have to also reduce the rate.

As regards developments in the monitored pair EUR / USDSo it was mainly a lot of wild Friday afternoon. In response to macro news at 14:30 came relatively steep exact sale support, which we pointed out in the morning. There, the price rebounded and crazy pace of 100 pips per hour created a new high. Price eventually closed in around half of Friday's range.

For today we expect character development rather consolidation. Short, respectively still do not want and we will try to short-term long trades on major support. The first one is still about 1.3590 and about 1.3570 next. We see significant resistance around 1.3655 and about 1.3720.

Read also:

Official index differs from the index of HSBC

Read also:

March 05, 2013Australia kept interest rates BOSSA.CZ (BOSSA.CZ)
December 04, 2012Australia cut interest rates, AUD unresponsive BOSSA.CZ (BOSSA.CZ)
December 04, 2012Australia cuts interest rates to their lowest level in 50 years Colosseum a.s. (Colosseum a.s.)

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