On Tuesday, the RBA will be releasing their interest rate (cash rate) decision.
My anticipation is for the decision to keep the cash rate on hold. I'll be paying attention to the tone of the statement, which will be released at the same time
I expect the statement to be similiar as previous month, indicating evidence of growth, with a statement that a weaker AUD will help. Traders shouldnt consider this as an indication that the RBA is likely to intervene to drive prices lower.
Currently, prices for the AUD/USD is climbing, primarily due to a weakness in the USD.
Therefore, if price remains above 0.7423, we could see price approach the 0.75 level.