Admittedly, I was alittle nervous going into the RBA rate decision yesterday. However, AUDUSD was hovering around 0.7485 going into the RBA session.
It was quite certain that RBA wouldn’t lower or raise interest rates. Too much noise in the market about a possible rate cut and then again with inflation and the ‘bubble’ real estate market, the only way is to raise interest rates.
Anyway, I wasn’t so bothered about it, I was more concern about the RBA statement and what it could imply???
Thankfully, it was a neutral statement, one without ‘teeth’. AUDUSD responded positively and powered northwards.
I decided to square the other half of my AUDUSD call option at 0.7550 for a trading profit of 142bps!!!
Thank you RBA, thank you Lowe!
The Panthenon Investment Group 