Trading the RBA via GBPAUD
As mentioned in the channel update...
On the AUD side, RBA are expected to leave rates unchanged after the 50bp in June/July. Expecting the RBA to take a more upbeat and positive tone around early signs that house prices are stabilising, decent job creation and a sweet spot from fiscal and monetary stimulus.
In the UK, sadly politics once again in full control of markets. Parliament are back from their well needed holidays and have one week to save the country. Probabilities of no-deal will swing this week and carry GBP with it. I continue heavily selling GBP across all portfolios.
A break here in a technical perspective will be enough to open up the flow towards our targets.
On the AUD side, RBA are expected to leave rates unchanged after the 50bp in June/July. Expecting the RBA to take a more upbeat and positive tone around early signs that house prices are stabilising, decent job creation and a sweet spot from fiscal and monetary stimulus.
In the UK, sadly politics once again in full control of markets. Parliament are back from their well needed holidays and have one week to save the country. Probabilities of no-deal will swing this week and carry GBP with it. I continue heavily selling GBP across all portfolios.
A break here in a technical perspective will be enough to open up the flow towards our targets.
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