Forex Flash: AUD/USD remains bearish ahead of RBA decision – Scotiabank

Forex Flash: AUD/USD remains bearish ahead of RBA decision â€" Scotiabank

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Forex Flash: AUD/USD remains bearish ahead of RBA decision Scotiabank

FITITOL--> FXstreet.com (Barcelona) - The Aussie dollar is hovering over today’s highs around the 1.0350 mark as risk-on trade is intensifying ahead of the FOMC meeting due later on.
AUD has been under pressure lately as the likeliness of a slowdown in the Chinese economy is growing bigger and the recent inflation figures were not something to write home about when comes to the next RBA monetary policy meeting on May 1

E.Theoret, Currency Strategist at Scotiabank, remarks that although the cross is outperforming at the moment, it is still trading below the 200 day MA at 1.0368
At the same time, the expert comments that the market participants are wondering the probable size of the RBA’s next rate cut by now, highlighting that a survey by Bloomberg said that 21 out of 24 economists are expecting a 25 bps cut.