The Minutes of the most recent RBA meeting are expected to be released Monday at 9:30pm EST. The AUDUSD has been trading in the low 0.9700’s. If that 0.9700 level is broken through we could see a bearish AUD for the near future.
Some analysts think the AUD will hit 90 cents by the end of 2013.
Economists and traders alike will observe this Minutes report to see if there are any signs of further rate cuts of additional quantitative easing.
Earlier this month the Reserve Bank of Australia (RBA) cut rates to 2.75%. This figure ties them with New Zealand rates. If the RBA decides to cut rates further, they will lose their title as the highest rates. In result of them losing their title of the highest interest rates, AUD sentiment could be influenced even more significantly from a rate cut.
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