The interest rate is expected to be held tomorrow at 11:30 EAST or 1:30 am and GMT-3 on Tuesday for most Latin-American countries. Consumer spending and housing sector are the two main factors to keep the interest rate unchanged. The Australian GDP and trade balance are also information expected to be released this week under negative forecasts. The weakness of the economy today comes from lack of investment, rising imports and slowdown of exports. Last rate cut was last month, the information that triggered the cut was inflation reported at 1% its 17 year lowest percentage.
Trading opportunities
AUDUSD
BUY scenario: Prices above 0.76 will respond to buy up until 0.7624 and 0.7646. Price above 0.7575 also good long entry point.
SELL scenario if prices are below 0.7575 the market will respond on sell down to 0.7547 and 0.7510.
If prices are in the range of 0.76 and 0.7575 means that markets did not discount the exact outcome of the interest rates so, get ready for any scenario, pending orders are a good tool if that is the case.
Trading opportunities
AUDUSD
BUY scenario: Prices above 0.76 will respond to buy up until 0.7624 and 0.7646. Price above 0.7575 also good long entry point.
SELL scenario if prices are below 0.7575 the market will respond on sell down to 0.7547 and 0.7510.
If prices are in the range of 0.76 and 0.7575 means that markets did not discount the exact outcome of the interest rates so, get ready for any scenario, pending orders are a good tool if that is the case.