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AUD/USD Trading - the RBA Meeting- 3 Oct 2016

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AUD/USD Trading – the RBA Meeting- 3 Oct 2016
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On Friday, the Australian dollar followed the euro and the pound.

Also, the August new home sales showed an increase 6.1%, and the "Aussie" grew by 23 points.

Tomorrow Australia is to publish the building approvals data which is expected to decline by 7.0%.

In China, the business activity in the manufacturing sector for September remained at the August level of 50.4 points against the forecast of 50.5. But the non-manufacturing business activity index rose from 53.5 to 53.7.

Tomorrow the Reserve Bank of Australia will have the meeting. The market doesn’t expect the rate cuts. But this is the first meeting of the regulator with the new head Philip Lowe, so it will be an interesting to know his view on the national currency.

The iron ore is descending. The Friday's close price was 56.63 dollars per ton (-0.14%).

How to trade binary

We would buy Call options if the pair AUD/USD rises above 0.7665. We would buy Put options if the pair falls below 0.7632.

Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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