AUD/CAD Sells

The RBA is expected to keep the benchmark lending rate unchanged at 4.35% in the early hours of tomorrow. The need to keep raising interest rates has eased massively as incoming inflation data shows positive signs. The Bank was forced into hiking rates as recently as November after inflation data headed in the wrong direction.

Markets anticipate the RBA will have cut interest rates by September but this could happen as early as June (49% chance) according to the market implied probability.

I will bw focusing on this news to determine the new HH for this pair. AUDCAD wont be impacted much compared to AUDUSD, however there will be movement,