RBA Governor keeps rates at 3.60% - here's what traders missed
Key Points
- The RBA surprised markets by keeping rates unchanged at 3.60...
The Reserve Bank of Australia just pulled the financial equivalent of saying "maybe tomorrow" when everyone expected a definitive answer. While traders had their calculators ready for a 25 basis point cut, the RBA decided to keep rates parked at 3.60% and wait for "a little more information" - which is central banker speak for "we're not telling you what we're thinking."
The Great Rate Fake-Out
The Australian dollar initially jumped like a caffeinated kangaroo after the announcement, but reality hit around the 0.6550 level where it met a wall of moving averages. Think of it as the currenc...
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