RBA Monetary Policy Statement 08/06/09

9:30pm (NY Time) AU Monetary Policy Statement
ACTION:    AUD/USD      BUY (Bullish)     SELL (Bearish)

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RBA issues a statement on its Monetary Policy about 4 times a year.  As statement on RBA’s website “… These Statements assess current economic conditions and the prospects for inflation and output growth. These Statements have replaced the Semi-Annual Statements on Monetary Policy and the reports on the Economy and Financial Markets which were previously published by the Bank.”

Since we are likely to get hints of future policy direction, whether a credit hiking cycle is coming next quarter or at the beginning of the 2010, or should we expect a prolonged recession and further contraction in the economy… these statements will surely move the market.

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I’ll try my best to be around this report and record the entire process live. Hopefully I’ll be able to interpret market condition accurately and make some pips along the way.

Click here to watch the video

UPDATE: RBA was hawkish but not overly hawkish.  Market jumped up about 25 pips only to have the gains erased in 20 minutes.  There is a strong resistance at the 0.8460 level and unless we can break that level, I’ll not be looking for a LONG trade on the AUD/USD.  The end the result for this news is a no trade.

About Henry Liu

My name is Henry Liu and I am a Forex Trader and Mentor. I help traders achieve consistent income trading Forex while spending less time trading. My focus in trading is a combination of Fundamental Analysis, Technical Analysis, and Market Sentiment. Far too many retail Forex traders concentrate on just one aspect of trading, technical analysis, and ignore everything else; it is my goal (and vision) to educate every trader on how to take advantage of news trading and become more balanced traders.

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