This morning we’ve got a moderately optimistic report since the last meeting of the Reserve Bank of Australia.
RBA gradually strengthens the idea of the need to increase investment in production, reducing dependence on raw materials.
The market keeps lowering the probability of the next rate in August, at the level of 52%. The Australian dollar has grown slightly after the report, but not for long.
Yields on Australian bonds are growing against the background of a mixed dynamics on US securities, which warns us of the speculative nature of growth in the Australian dollar. We look forward to trading in the range 0.7440-0.7500. It’s more likely the price can go to the lower limit.
How to trade
The short-term upward movement is possible in the range of 0.7492 - 0.7526. The short-term downward movement is possible in the range of 0.7440 - 0.7405. We would buy call options if the pair rises above 0.7492. We would buy put options if the pair falls below 0.7464.
Expiry time: 20:00 GMT