Tomorrow morning the Reserve Bank of Australia will be releasing Australian Interest Rates. The last two months have remained at the 3.50% level and that is the expectation for tomorrow.
The Australian Cash Rate is also called the Interest Rate. This rate is the rate that banks pays when they take out a loan from another bank. Differences in the cash rate lead to interest rate changes, savings interest rate changes and loan interest rate changes.
Traders will definitely be caught off guard if there is a lower released rate tomorrow. In that scenario, there would no-doubt be market movement.
In my opinion, if we have another bullish week, the 1.08 level could be in the forecast before a retracement.
Written By: Tony College
Winner’s Edge Trading, as seen on: