AUD/NZD will now depend upon the RBA this week By ross_burland Australia Currencies AUDNZD RBA RBNZ
RBA
''The best policy for the RBA Board will be to raise the cash rate by 40 basis points. The RBA is well “behind the curve”; has seen further threatening evidence around inflation and inflationary expectations since the last meeting and needs to make a clear statement that, like most developed nations, Australia is facing a formidable inflation challenge which needs a stronger early response than the minimum 25 basis point gesture,'' the analysts said.
Meanwhile, for today, the next risk event will come in the May Caixin services PMI. This is expected to post a significant improvement although the sector is still under pressure from COVID-19 disruption. However, the official PMI survey suggested that economic activity has still not turned around.
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