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5 May 2015
AUD/USD: Bull round trip ahead of RBA
FXStreet (Bali) - Ahead of the RBA monetary policy decision, in which the majority of Economists expect the Central Bank to cut the rate by 25bp to 2%, the OIS pricing has suddenly dropped to only 66% chance of a rate cut from 81% yesterday, suggesting that the market remains very uncertain.
AUD/USD has printed its highest for the day at 0.7858, with stops orders being reported between 7860 and 7875. At present though, the rate has come off its daily peak quite aggressively, testing bids circa 0.7840. Liquidity is very thin, so it doesn't take much size (relative to normal business) to move the market ahead of the rate decision.
AUD/USD has printed its highest for the day at 0.7858, with stops orders being reported between 7860 and 7875. At present though, the rate has come off its daily peak quite aggressively, testing bids circa 0.7840. Liquidity is very thin, so it doesn't take much size (relative to normal business) to move the market ahead of the rate decision.