FX_IDC:AUDUSD AUSTRALIAN DOLLAR / US DOLLAR
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Comment: The pair is retreating from recent 3-week highs in the mid-0.7100s and it is so far snapping a 2-week positive streak ahead of the RBA interest rate decision due tomorrow. Market expectations of a rate cut by the RBA remains nearly zero, especially after today’s inflation figures. We note the jump in monthly and annual tradable inflation, confirmation that the weaker exchange rate is feeding through, just as the RBA expected.
Trade closed: target reached: TARGET 1 REACHED!
Trade closed: target reached: 2nd TARGET REACHED!
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