The Reserve Bank of Australia whom was forecasted to increase the Australian interest rate environment by .25 basis points left it unchanged. This surprised almost every economist on the face of this earth. Australia has experienced incredible growth, but having said that, may have had some second thoughts when it comes to tightening the economy. The aud/usd plummeted by over 100 pips in less than 10 minutes.
There are numerous FA's this week, but by far the most popular is Friday's Non-Farm Payrolls report. What will the numbers mean and how will it affect the FX market? Great question...guess we will wait till Friday and see what happens!! No use in getting ahead of ourselves.
To the Summit,
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