RBA cuts the interest rates - Forex News by FX Leaders

RBA cuts the interest rates

Posted Tuesday, May 3, 2016 by
Skerdian Meta • 1 min read

Last night the Royal bank of Australia (RBA) cut the interest rates by 25 bps. The inflation figures last week were disappointing so many thought that the RBA had no other choice but to cut. We went short yesterday with two short term forex signals yesterday with the bearish scenario in mind but the retrace up before the RBA statement was too big for our sl target. We also placed a pending order for a long term signal at 0.7750 but the price didn´t reach that far. This morning the Australian Dollar is about one cent down and it hurts that we missed it.

AUD/USD is about one cent down from the highs overnight

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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