I am taking into account the last RBA meeting and the projections of their economy when I place this trade. We had stella NFP results from the US last week which has bought forward the rate hike to December. Although the RBA has been COMPLICITE IN SAYING that monetary policy is ok at the moment we need to look at the bigger picture. Exports and imports in China declined over the past Quater??? lthough the trade balance increased(You didnt see this fact on forex factory calander) The underlying factor is the China economy is getting smaller..... Now, Austaralia is a major exporter to China based on Iron Ore (which the price is decreasing due to less demand from China) So, from a major export economy to a supplier that is having problems ...is that going to help your GDP???.....nO IT WILL SHRINK YOUR ECONOMY. So, gOV stevens said that monetary policy is flxible in the future. Price target is now 6800. want to know more boafx.com
