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  1. #1
    Specialist Member RCox's Avatar

    RBA Rate Decision Sets Up Tuesday Trade !!!

    RBA Rate Decision Sets Up Tuesday Trade

    The RBA rate decision on Tuesday sets up a good event to trade, given that we have seen conflicting signals from the central bank with respect to the true need for additional interest rate reductions. The most recent comments have suggested that there will be no need for rate decreases near term but since markets are still pricing this in as a possibility, there is still scope for a surprise. Consensus is looking for no change to the 3% interest rate seen now, but the accompanying policy statement also has the ability to move markets. The ASX can be used for this trade but I will later outline levels for the AUD/USD for specific positions. RBA rate decision is scheduled for 3:30 GMT on 3/5/2013.
    Last edited by RCox; 03-03-2013 at 04:52 PM.

  2. #2
    Junior Member
    RBA will be interesting event. GBP is already dramatically oversold and some positive news could rebalance the situation. What do you think?

  3. #3
    Specialist Member RCox's Avatar
    I'm not sure why you are asking about the GBP.

  4. #4
    Specialist Member marvel's Avatar

    !!!

    It could be a nice shaker! I will closely watch the price action of the AUD/USD and AUD/JPY pairs at this time and will eventually trade after the announcement. I am betting on continuation of the down trend!
    Last edited by marvel; 03-04-2013 at 11:31 AM.

  5. #5
    Specialist Member RCox's Avatar
    QUOTE=marvel;3004]It could be a nice shaker! I will closely watch the price action of the AUD/USD and AUD/JPY pairs at this time and will eventually trade after the announcement. I am betting on continuation of the down trend![/QUOTE]

    right yeah like the harlem shake "lol

  6. #6
    Specialist Member RCox's Avatar
    Levels to watch are seen at 1.0220 for resistance, and 1.0140 for support. If you are actually trading with real money (not common in here) be ready at the time of the data release and then watch what happens in the price data.

  7. #7
    Specialist Member RCox's Avatar
    Pull in the levels to 1.0220 for resistance (CALLS), and 1.0180 for support (PUTS).

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    Last edited by RCox; 03-05-2013 at 02:28 AM.

  8. #8
    Specialist Member RCox's Avatar
    No change in rates, relatively neutral policy bias. Should be AUD/USD positive for the day but not enough of an impulse to trigger a trade.

  9. #9
    Specialist Member RCox's Avatar
    Not surprising to see the AUD/USD on the move higher after the no-change in rates. The major risk was for a surprising rate reduction, so markets took the opportunity to get long. Price activity after the decision:

    Click image for larger version. 

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