Skip to main content

AUD/USD steady above 0.6500 as markets anticipate a hike from the RBA tomorrow

The Reserve Bank of Australia is due to decide on their monetary policy early tomorrow morning (at 3.30am GMT). The overwhelming consensus amongst economists (35 out of 39), is the RBA will hike by 0.25%, taking the OCR to 4.35%, from the current level of 4.10%. This prospect is helping to buoy the AUD/USD, but the weaker US dollar was already doing that to a large degree. The AUD/USD recovered back above 0.6500 on Friday and later closed the session and the week at 0.6513. That close was just 1 pip above its 100 day moving average, in place at 0.6512. It has not made much progress yet today though. The high seen has been set at 0.6520. That said it is holding steady above 0.6500 as the wider European markets get under way. The AUD/USD is currently trading at 0.6512

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!