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Forex Flas: RBA on hold for next week and no signal that rate cuts are imminent - TDS

FXstreet.com (Barcelona) - With Aussie dollar currently at 1.0254 and threatening the mid term ascending trend-line coming from June last year, “We look at three scenarios for the RBA meeting next week,” say analysts at TD Securities.

“Our base line scenario sees the RBA on hold at 3% and giving no obvious signal that a rate cut is imminent,” TDS adds, suggesting: “However, the two risk scenarios are both AUD-negative,” they conclude.

Forex: EUR/JPY finishes slightly lower after roller-coaster day

The EUR/JPY finished the day down 35 pips at 127.90. However, the intra-day price action was a different story with the pair trading as high as 129.90, and as low as 127.50. The initial catalyst which helped the pair shoot higher appeared be the ECB Rate announcement. However, the pair quickly reversed gains after Mario Draghi’s press conference which was quick to follow the initial announcement.
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Forex Flash: - We recommend selling the euro – Soc Gen

The EUR/USD had a roller coaster of a day, initially trading higher on the ECB Rate decision then reversing all gains during Mario Draghi’s press conference and closing the day down 123 pips at 1.3061
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