AUDUSD trading strategy on October 20The RBA meeting has been held and we have found the co-governor leaning towards the possibility of additional interest rate hikes and will await economic data in the near term.
In line with the hawkish trend, RBA Governor Michele Bullock spoke at the summit yesterday and pointed to recent back-to-back events that provide a high reward.
All of this makes Wednesday's Australian Q3 CPI the focus of attention for AUD.
A Bloomberg survey expected the full share to come in at 5.2%, well above the RBA's mandated target of 2-3%.
In the near future, US government bond benefits will increase higher than continued USD support and could create AUD/USD at a new bottom.
