31.03.2014 - RBA statement will determine the further trend of the Australian dollar
The Australian dollar can complete Q1 2014 with the the largest increase in price since 2011. At the moment, the quotes are corrected inside the rising channel and investors' attention is focused on the future statement of the Reserve Bank of Australia (tomorrow 3:30 GMT). We do not expect changes in the parameters of monetary policy, but special attention will be focused on the words of the head of the RBA regarding the future plans of the regulator.
Among the factors that caused the growth of quotations of the Australian currency is worth noting the possibility of stimulating the economy of China, as well as the previous statement of the RBA concerning the refusal to cut the interest rates. Further price movement will depend on the RBA rhetoric.
Wish you the profits!
FXFINPRO Capital Analytical department.