The latest Bloomberg poll of economists have 23 of 27 expecting a Reserve Bank of Australia rate cut on May 5.
Last week there were only 3 not expecting a cut .... NAB, Macquarie and Market Economics. This week these 3 are joined by HSBC in expecting rates to remain on hold.
The AUD/USD was sold heavily overnight on reports in the local media (Peter Martin in the Sydney Morning Herald) that the RBA will cut. RBA will cut in May - Livesquawk
