Instrument: AUDUSD+
Bullish Preference:
Buy position is envisaged if price trades above 0.65503 With take profit at 0.65609
Bearish Preference:
Sell position is envisaged if price trades below 0.65268 with Take profit at 0.65173
Fundamentals:
AUD: RBA Gov Bullock Speaks 9:35PM
USD: Unemployment Claims 2:30PM
Revised UoM Consumer Sentiment 4:00PM
Comment:
The minutes from the November 7th RBA meeting revealed a very close call to hike rates by another 25 basis points with the goal of anchoring inflation expectations. Key to note within the committee’s most recent forecasts was the assumption of further rate hikes which were built into the data. The decision was made a little bit easier with the Australian Cash Rate relatively low when compared with other major central banks.
While Australian interest rates are restrictive, the housing market appeared to show resilience, suggesting that demand was still posing potential problems in the sector and could impact price increases down the line.
Analysis: SCRUM Team