AU RBA Interest Rate Decision

February 4, 2013

AU RBA Interest Rate Decision

RBA (Reserve Bank of Australia) is expected to keep its borrowing costs at 3.00% as per general market consensus, this is following last meeting’s decision to also keep the rates unchanged…

Here´s the forecast for this news release:

10:30pm (NY Time) AU RBA Interest Rate Decision

Forecast 3.00% Previous 3.25% 

DEVIATION: 0.25% (SELL AUD 2.75% / BUY AUD 3.25%)

Definition: Australian RBA interest rate is often refers to as the “cash rate target”, also called the official cash rate (OCR) or cash rate. This is the Australian base rate. Banks pay this interest rate when they take out a loan with a maturity of 1 day from another bank. By buying or selling bonds and other securities issued by the government the RBA can influence the money supply and thus the cash rate target. A rise or fall in the cash rate often also leads to a change in the interest rates for mortgages, loans and savings.

The Trade PlanIf RBA decides to cut interest rate, we will stay out… If RBA decides to keep rates unchanged, we’ll BUY of AUD as market expects a cut. Ultimately we are neutral to slightly bullish on the AUD as AUDUSD has shown certain degree of resilience and should continue after today’s rate decision, especially considering the positivity from China.

 Recommended Pairs : AUDUSD, AUDCAD

AUD/USD - Australian dollar / US Dollar

Resistances : Weekly 1.051 ; Daily 1.0475 ; Hourly 1.044

Supports : Weekly 1.036 ; Daily 1.038 ; Hourly 1.041

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