Elections in the UK, release from the Reserve Bank of Australia and the ECB press conference: how will the currency rates change this week?

This week will bring a lot of fundamental news that will cause market fluctuations and create excellent trading opportunities for traders. We identified 3 main events of this week:

1. The Reserve Bank of Australia will release their Cash Rate and Rate Statement on Tuesday. The interest rate charged for the transfer of overnight transactions between financial companies, according to preliminary forecasts, will remain unchanged: 1.50%. Such a result is laid in market prices, therefore any surprises will lead to fluctuations in the national currency rate: the rate hike will help the Australian dollar to grow, and the reduction will help it to fall. The decision on the interest rate will indicate the views and concerns of the RBA. Continue reading