AUD/USD

All eyes will be on US CPI, undoubtedly the week's most important macro release on Wednesday.

At its monthly meeting this afternoon, the Reserve Bank Board raised its official cash rate for a third consecutive time by 50bp from 1.35% to 1.85%.

Next Tuesday, the RBA meets again and is widely expected to raise the cash rate. Once again, the main question will be by how much.

June quarter Australian inflation data has surged to 6.1%, but below consensus expectations easing fears of a supersized 75bp rate hike when the RBA meets next week.

With Asian markets in a more cautious mood after being wrongfooted by the overnight sell-off on Wall Street, the focus this morning has been on the RBA Board meetings for July.

AUDUSD falls after weaker than forecast Chinese GDP. Oil is set for a weekly decline but holds above 200 sma .

EUR/USD looks to PPI & investor sentiment figures. AUD/USD rises ahead of RBA rate decision.

With more manufacturing due out later in the week, traders need to watch Dr Copper to help gauge the health of the economy. If copper continues its move lower, watch for AUD/USD to move lower with it!

After the RBA Minutes noted yesterday that members had considered a 40bp rate increase at the May meeting, the focus for traders this morning was firmly on Q1 AU 2022 wages data - seeking clues as to the size of the RBA's next rate hike.

This morning saw the release of the RBA’s May meeting minutes. The market was hoping for clues on the likely size of next month’s rate hike, particularly after the bank caught all commentators on the wrong foot last month by raising rates by 25bp to 0.35%.

The Australian Federal Election is just five days away. Both polling and betting markets have the ALP well ahead. As illustrated by Brexit, Donald Trump’s election in 2016 and the Australian Federal Election in 2019, polls are not fool proof.

Aluminum has been moving lower since fears of a slowdown began to sweep through the markets, and it is bringing AUD/USD lower with it.

For the first time since November 2010, the RBA has raised interest rates today, from a record low of 0.1% to 0.35%.

This morning's release of March quarter Australian inflation data smashed already elevated expectations. The stunning beat firms up the chances that the RBA will raise interest rates at its monthly board meeting next week for the first time since 2010.

Traders can use the correlation coefficient on the 240-minute timeframe to help them determine where AUD/USD and NZD/USD may be headed next.

After an impressive rebound over the past three months, Australian Labour Force data released early today has shown the pace of the recovery has slowed to a more sustainable pace in March.

The ASX200 added 14 points today to 7528 after the RBA removed its dovish forward guidance at its monthly Board Meeting this afternoon.