(This is an excerpt from an article I originally published on Seeking Alpha on October 2, 2013. Click here to read the entire piece.)
Financial markets expected no rate cut from the Reserve Bank of Australia (RBA), and they got no rate cut. However, for whatever reason, expectations for a rate cut for the November meeting represent an increase in odds. {snip}
Source: Australian Stock Exchange (ASX)
{snip}
In the immediate wake of the announcement, the Australian dollar (FXA) rallied a bit. As with many of these immediate, quick-trigger responses in the wake of minor news, the pop is in the process of reversing. Weaker than “expected” economic data in building approvals and the Australian trade balance seem to have encouraged the reversal at the time of writing.
Source: FreeStockCharts.com
{snip}
Be careful out there!
(This is an excerpt from an article I originally published on Seeking Alpha on October 2, 2013. Click here to read the entire piece.)
Full disclosure: no positions