- It's a big day for the AUD, with its March trade balance and the RBA meeting at 14:40 in play

Chris Weston

Pepperstone

- It's a big day for the AUD, with its March trade balance and the RBA meeting at 14:40 in play. The trade balance figure may provide some indication on how recent weakness in commodity prices affected terms of trade and subsequently exports. The RBA will leave rates on hold; however it's the statement that traders are interested in. The bank will talk about the currency being at historically high levels, although no one is really expecting any major changes to its prior guidance. On Friday we get the RBA's statement on Monetary Policy (SoMP), which may include tweaks to its inflation expectations. On the day I would look to sell AUD/USD on rallies to 0.9310, with a stop at 0.9460.


Chris Weston
Head of Research
Pepperstone

Highly accomplished financial markets professional, with experience at a number of top-tier global institutions on both the buy and sell-side. A natural communicator with a strong ability to analyse macro-economic trends, capital flows and market...

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