Sean Callow, analyst at Westpac, points out that the Australia’s below-consensus inflation reading has stoked a fresh wave of pricing for RBA rate cuts. Key Quotes “A cut to 1.25% had only been fully priced by the Oct 2019 meeting but after CPI it was priced by June, with the chance of a May cut – in the heat of the election campaign no less – around 2/3.” “The debate over the RBA policy outlook will dominate discussion near term, with little on Australia’s data calendar to provide fresh direction. This is likely to keep AUD/USD on the back foot in the week ahead.” “Adding to the pressure on AUD/USD in the week ahead should be a firmer US dollar, backed by upward revisions to US Q1 GDP forecasts (due Fri). But downside on the Aussie could be contained by a more positive global mood e.g. record highs for US equities and China’s stronger March data. The RBA will be making note of these developments too.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP Technical Analysis: Under pressure with RSI violating rising trendline FX Street 4 years Sean Callow, analyst at Westpac, points out that the Australia's below-consensus inflation reading has stoked a fresh wave of pricing for RBA rate cuts. Key Quotes "A cut to 1.25% had only been fully priced by the Oct 2019 meeting but after CPI it was priced by June, with the chance of a May cut - in the heat of the election campaign no less - around 2/3." "The debate over the RBA policy outlook will dominate discussion near term, with little on Australia's data calendar to provide fresh direction. This is likely to keep AUD/USD on the back foot… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
