The day ahead in the FX market, Tuesday December 4th

  • RBA rate decision later this afternoon, with the market pricing in a 90% chance of a 25bps rate cut:
  • Yen positioning is other major factor in the market, with shorts certain to get increasingly nervous as the December 16th election beckons:
  • EUR/USD now consolidating above 1.3000 and the short-term trend remains bullish:
  • No talk of any large orders in the market:
  • EUR/JPY has started to quieten down, and 106.50/108.00 look like the important levels to watch there.

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