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Forex Flash: RBA to hold rates steady next – NAB

FXstreet.com (Barcelona) - Next Tuesday the Reserve Bank of Australia will decide on interest rates. According to National Australia Bank the central bank will keep rates unchanged at 3% and an easing bias in the media statement. “Looking ahead for the rest of the year, the market is pricing about 20 basis points of easing for the next 12 months, a 80% probability of one more rate cut. In one sense that’s difficult to argue with, given the RBA’s rhetoric and comments about how its easing since November 2011 have gained some traction in consumer sentiment, housing and maybe retail,” the analysts said.

Forex Flash: Oil forming a very bearish pattern - FXA

While NYMEX Oil is above the $96 mark, at fresh 1-month highs, according to Foreign Exchange Analytics analyst David Solin, Oil is nearing the “ceiling of a large triangle before final top is seen,” David anticipates.
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Forex: EUR/AUD keeps pushing below 1.2250

EUR/AUD is again adding loses though this time from current Aussie strength, last at 1.2228 in the EUR/AUD cross, off fresh 4-month lows at 1.2222 printed in late NY trade. The cross leaves behind the 200 day SMA around the 1.2413 level, falling for third consecutive day following Cyprus bailout deal, and subsequent EU's chairman comments. EUR/AUD is down -1.64% for the week so far, while -3.73% year to date.
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