AUDUSD in focus
The RBA have repeated their willingness to keep easing after the latest minutes make a clear case for another rate cut in 2019. The RBA will consider further policy easing if needed to support growth and inflation targets. Read the full statement here.
The current probability of a November rate cut is 76%. The unemployment rate is due Thursday and that is expected to remain at 5.2% which is on the high side of where the RBA would like it. So, once the FED is out of the way later tonight, AUDUSD should look vulnerable to more downside with important Labour data out tomorrow potentially a new catalyst for sellers if we get some weak readings. Remember to not just look at the headlines reading, but to see the full time and part time split.