Upcoming Key Events for Market Watch:
On Tuesday Morning, AUD - RBA Monetary Policy Meeting @06.00 am
GBP - CPI y/y @03.00 pm
CAD - Core Retail Sales m/m @06.00 pm
NZD - GDT Price Index
*All Timings are in Indian Time Only (GMT +05.30)
The RBA-Reserve Bank of Australia’s monetary policy meeting is due on Tomorrow morning, where interest rates are doubtful to be distorted as the RBA is predictable to uphold its cash rate at 1.50 percent, which will be the 6th consecutive month of keeping rates stable at this level.
At the meeting in last month February, Philip Lowe, the RBA Governor unconfined fresh economic forecasts & projected the Australian development rate to be around 3 percent for the next few years, which was a little higher from its earlier forecasts.
Last week, data from the AUD Bureau of Statistics showed that the Australian market highly developed 1.1 percent in the 3 months ending December 2016. The data hit estimates among concerns that the Australian financial system may slip into a depression. On a yearly basis, the AUD economy increased 2.4 percent up from the forecasts of 2 percent.
The RBA is possible to admit this as well as taking into account the retail sales numbers that comes the day before. Economists polled anticipate Australia’s retail sales to increase 0.4 percent in January 2017 which is predictable to overturn the 0.1 percent turns down registered in December 2016.
There is some rumor that the economy might require more monetary help going ahead. The RBA in recent times confirmed the extent for more rate cuts is thin to none from the present record low of 1.5 percent. A hawkish attitude to the minutes might drive the Aussie upwards.