Aussie dollar stable before RBA decision. What to watch out for

decision time is 0430 GMT.

forex week has slowed down due to the US holiday, but it will resume dramatically in Asia-Pacific trading with the RBA’s decision just hours away at 0400 GMT.

Market expectations are that the central bank will contract despite the epidemic and lockdowns in Australia, but those expectations are not unanimous.

In terms of the current outlook in AUD / USD, there has been a dramatic rally from August lows as the market looks beyond the delta outbreak and is counting on widespread vaccination for December.

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If we get a lag in the drawdown, it will quickly return below 0.7400, but upbeat comments and the RBA’s adherence to the plan would help extend recent gains above 0.7500.

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