Must Read Forex Updates for Jan 24th, 2023
It is still possible that the Reserve Bank of Australia will raise interest rates again in February, as mentioned in their previous minutes. Money market prices are currently divided between a 0% increase and a 25bps increment, which could lead to more clarity on Wednesday’s inflation print. On a positive note for the Australian dollar,
commodity prices are projected to remain high throughout the year largely due to China reopening and coal exports being directed toward European countries who have become increasingly concerned about Russian energy sources.
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