Happy RBA day!
At 0430GMT we get the announcement from the board meeting. We only get 11 of these a year (which is the same as the number of Tim Tams in a pack. Coincidence? Ha! I think not), so live it up.
Just to be a damp squib … no change is expected, cash rate to remain at 2.5%. Attention will turn to the accompanying statement to gauge the nuances of what the RBA is thinking.
Adam has a preview, here, and I’ll be back with another soon: Australian dollar higher for second day ahead of RBA
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Meanwhile … AUD/USD had a sideways overnight, up a little. Initial support is around 0.9320/23 and initial resistance is pretty much where we are at present, around 0.9332.
