Tag: trading

Australia’s central bank is likely to lower interest rates again to drive increased hiring and boost households’ confidence that inflation will return to target.

The Reserve Bank made the comment in minutes of its June 4 policy meeting, when it eased the cash rate to 1.25% in the first reduction in almost three years. The report was released in Sydney Tuesday.

“The July meeting is clearly live, but we marginally favor August for the next 25 basis-point cut because it coincides with the Statement on Monetary Policy,” said Gareth Aird, senior economist at Commonwealth Bank of Australia, referring to the RBA’s quarterly

Russia joined a growing pack of emerging-market nations lowering interest rates and signaled more reductions to come, boosting bonds and the ruble and leaving traders to guess the timing of its next cut.The first reduction in more than a year had been expected and strategists said Bank of Russia’s dovish tone was justified given weak growth and slowing in inflation, meaning further cuts wouldn’t hurt the world’s best-performing currency this year. With the Federal Reserve predicted to lower rates in the U.S., Russia’s carry-trade appeal should endure, ensuring further flows into the nation’s bonds.Piotr Matys, currency strategist at Rabobank in

10,000 Ft View – Daily Chart

Lets zoom in for the trade set-up.

What I like about the set-up is the buyers took out the pivot low in yellow circle. In addition, the 0.6545 level appears to be a level that price likes as indicated by the purple circles.

This trade is a position trade, meaning I’m willing to hang on to the trade for months/years if price moves in my favor as my trade is 500 pips away.

This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making