RBA minutes preview – what to expect from AUD/USD?

By FXStreet FXStreet (Guatemala) – AUD/USD is set up for the RBA minutes today and the house price index. The major commodity currency recovered on the price of oil rebounding off the lows earlier in the US session, but has been rejected at the 200 SMA on the hourly charts at 0.7266 and is now oscillating at current spot price supported at the 100 SMA.

The FOMC is the next big thing on the agenda, after the RBA minutes, is a potential rate hike for the first time in nine years by the Fed accompanied by a potentially dovish rhetoric from Yellen that could expose the greenback to the downside given that the hike has been priced in already.

RBA minutes: AUD too high?

The general consensus that is mounting is a positive outlook for the Aussie as the RBA remain on hold and money markets are only pricing in a 10-15% chance of a rate cut from the RBA in Feb. While there were no changes to the cash rate in this Dec meeting around, there was some emphasis in the statement to commodities and concerns in respect to mining capex falling, while maintaining the same commentary on the Aussie. …read more

Source:: FX Street