Bank analysts uniform in their expectations for RBA rate cuts by Sean Lee

Well actually is would be much more of a surprise if they actually differed from each other. The logic being I suppose that if you get it wrong, at least everyone else got it wrong also!

The consensus remains that February is probably a bit early for an actual cut and we will probably get a shift in bias next Tuesday with March firming as solid favourite for the initial 25 bps cut and the next one to come in June/July.

AUD/USD is holding solid at .8000. Chatter around the market is that the first big batch of trailing stops is above .8040. If that level breaks I wouldn’t pay any attention to rate cut chat, it will be the extreme positioning in the market that will be the number 1 factor at play.

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