- There would seem to be very little chance of any surprise in policy or language and we can expect more of the same.
- There have been no major domestic or international events in the last 4 weeks to change RBA direction.
- Interest rate futures markets are pricing in a long period of steady rates.
- Option players are still sitting in size either side of the AUD/USD market, with the main levels being .9250 and .9450.
I’d suggest sticking with recent history, and fading 40/50 pip moves in either direction.