Forex calendar snapshot: RBA cash rate & RBA rate statement
Tuesday 01 May 2012:
- RBA cash rate announced at Singapore time 12.30 pm
- RBA rate statement at same time
- Expected 4.00% from 4.25%
- Outcome 3.75%
Markets were not forecasting at 0.5% reduction. However the risk-reward proposition was clearly for shorting since the pair found resistance at April high the day before.
Candles at hourly chart shows that previous uptrend line did not offer any support at all. Suggests that market may have anticipated the results.
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