RBA up next in Asian session. OCR is widely expected to be kept unchanged at 1.50%. RBA will also maintain a neutral stance. Movements in Aussie is more likely tied to risk appetite/aversion than RBA. Australia will also release current account and retail sales.
More on RBA
- RBA Expected to Stand Pat; Other Key Data Out of Australia on the Agenda
- Australia & New Zealand Weekly: RBA on Hold, AUD to Weaken through 2018 and 2019
AUD/JPY is a pair that’s worth watching. It’s pressing key long term cluster level at 81.48, close to 50% retracement of 72.39 to 90.29. Return of risk appetite could trigger a rebound through 83.17 resistance. And that would in turn trigger a near term reversal.