RBA rate cut expectations continue to get pared back: The probability of easing at next week’s meeting is now at 50%, down from 80% a fortnight ago. Although Gov. Stevens stated that a rate cut ‘will be on the table’ (for discussion) at the May policy meeting (and he speaks again tonight), it seems that a better-than-expected March employment report and a sturdy Q1 CPI print weighed on expectations. Although there is training in a bearish pattern, we should note the upward pressure on the Australian dollar, clearly helped by the weak dollar.
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I'll do appreciate all views be it a like or comment, thanks a lot!
I can say something stupid? whether there will be a trend reversal (not a pullback), the range will be very important, so you should not have too much of a hurry to enter the market, it is very important to get 10 pips higher or 10 pips lower, the most important thing is to guess the trend ... calm and patience is the virtue of the strongest! Good trading my friends!!