Fundamental changes came to confirm a potential bullish reversal, and therefore, I am looking for the bullish trend to resume.
RBA was less dovish- more hawkish in its monetary policy statment yesterday
Two Main changes in the statment yesterday, compared to last month:
1) A sentence was added about employment: "growth of employment and a steady rate of unemployment over the past year. ".
2)Hints to strong AUD was omitted. Precisely: "Further depreciation seems both likely and necessary,"
Bottom line: it seems that the RBA is holding neutral for now, with no additional rate cuts on the horzion
The RBNZ on the other hand hinted in its previous assesment that further rate cuts is likely in the near future.
My best regards
Technician
Subscribe to my trading portal thefxchannel.com
RBA was less dovish- more hawkish in its monetary policy statment yesterday
Two Main changes in the statment yesterday, compared to last month:
1) A sentence was added about employment: "growth of employment and a steady rate of unemployment over the past year. ".
2)Hints to strong AUD was omitted. Precisely: "Further depreciation seems both likely and necessary,"
Bottom line: it seems that the RBA is holding neutral for now, with no additional rate cuts on the horzion
The RBNZ on the other hand hinted in its previous assesment that further rate cuts is likely in the near future.
My best regards
Technician
Subscribe to my trading portal thefxchannel.com
