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Flash: RBA might provide little new info - Westpac

FXstreet.com (Barcelona) - Westpac currency analyst Sean Callow thinks the RBA minutes might provide little new information following the Statement of Monetary Policy released three days after the meeting. NAB shared this same view earlier.

“Perhaps there will be some focus on the likely return of the phrase 'use some of that scope' which on the day of the rate cut seemed to hint that a follow-up was likely at some point” Sean added.

AUD/USD, further retracement brings 0.9965 into play

AUD/USD technical picture has improved in the last two trading days, finding a temporary bottom at 0.9710 before correcting higher through channel resistance, now consolidating above the 0.98 ahead of the RBA minutes.
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RBA minutes next: Impact on the AUD/USD

The RBA is about to publish the Minutes of its May meeting, when an unprecedented policy decision to reduce the benchmark interest rate to record lows was taken. The statement from the central bank should provide traders wil fresh clues about the economy and the immediate monetary policy moves.
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