What to expect from the RBA
- A 25 bps rate cut is priced in and if we do get the cut as expected, I’d think we might get a 30/40 pip dip before short-covering kicks in.
- 25bps with dovish statement; we should see market testing .8850 straight away.
- A 50bps rate cut and we will test .8770 pretty quickly.
- No cut; stops above .9050 will be triggered.