The Reserve Bank of Australia cut interest rates 25 basis points from 3.00% to 2.75% on Tuesday. Could we see the AUD weaken even more Wednesday with unemployment figures being released?
Unemployment figures will likely not increase this week according to economist’s expectations, but rates are “likely to move higher over the next six months”. (source).
In March total employment fell 36,000 in Australia and the unemployment rate was pushed to 5.6%, a three-year-high.
Also, did you guys hear about the huge AUD trade the other day? Some think George Soros was behind it!
Winner’s Edge Trading, as seen on: